by Sam Clanton

SPRINGFIELD, Mo. – The former owner of Allied Roofing Systems, LLC pleads guilty in federal court to providing false information in order to receive a 1-point-4 million dollar loan, and to failing to pay employment taxes for the now-defunct business.

Forty-three-year-old Clinton Tackitt of Republic admitted that the SBA loan application he submitted to Guaranty Bank was false and incomplete, as he failed to disclose accurate financial information, including debts he and his business owed.

Tackitt also admitted he failed to pay over to the government more than 262-thousand dollars in payroll taxes he collected from his employees, and more than 395-thousand dollars of the employer’s share of FICA taxes.

Tackitt will be required to forfeit 1-point-3 million dollars to the government, derived from the proceeds of his criminal conduct.

He is subject to a sentence of up to 35 years in federal prison without parole.

This case was investigated by the IRS, FBI and Small Business Administration.

sbaloan – BingNews