Former CFO Imprisoned for Mail Fraud and Tax Evasion

By November 18, 2015Tax Evasion, Tax Fraud

On Oct. 27, 2014, in Fort Myers, Florida, Shawn Fuentes was sentenced to 60 months in prison. Fuentes was also ordered to pay restitution to Naples Concrete and Masonry of $1,951,459, restitution to the IRS of $624,728 and a money judgment of $106,979. Fuentes pleaded guilty on July 17, 2014 to mail fraud and tax evasion. According to court documents, Fuentes was the Chief Financial Officer of N.C.M. of Collier County, Inc., doing business as Naples Concrete and Masonry, which was headquartered in Naples, Florida. On numerous occasions, between October 2008 and February 2010, Fuentes fraudulently wrote checks payable to American Express and to Bank of
America drawn on the bank accounts of N.C.M. and then sent them to satisfy her own credit card debt. As part of the scheme, the fraudulent checks appeared to be written for legitimate business expenses in the accounting system utilized by the company. As a result of the scheme, she obtained in excess of $500,000. Fuentes also filed a 2009 tax return reporting a taxable income of approximately $35,148, omitting the amount of money misappropriated or stolen from Naples Concrete and Masonry. The actual taxable income that she had received was $822,060; therefore, she failed to report taxable income in the amount of approximately $786,912.  For the calendar year 2009, Fuentes paid $2,671 in taxes rather than $262,081.