A man from Wilmington pleaded guilty to tax evasion in Raleigh, according to the US Department of Justice.
Jeffrey Wayne Scott, 48, was indicted on Nov. 25, 2013 for five counts of personal income tax evasion and one count of filing a false corporate return.
According to the USDOJ, Scott pleaded guilty to one count of willfully attempting to evade his personal income tax for the year 2007.
Court documents show Scott has owned and operated Greenville Loop Seafood, a seafood distribution company located in Wilmington, since 1995.
According to documents, the Scotts paid for nearly all of their living expenses with checks from the company between 2006 and 2010.
Through a bank deposit and expenditure analysis, the IRS calculated that Scott failed to report taxable income for these five years in excess of $1,151,642 and owed at least $390,678 in additional taxes.
For the 2007 tax year, Scott failed to report $328,754 in taxable income with an additional tax due and owing of $113,967.
Chief U.S. District Judge James C. Dever III scheduled the term of court to begin Aug. 18, 2014. Scott faces a statutory maximum prison term of five years and a maximum fine of $250,000.
Scott's attorney released the following statement Wednesday on behalf of Scott:
Today is a difficult day for Jeff Scott and his family.
There are two sides to every story, but Jeff looks forward to putting this
behind him. He has filed amended tax returns and he has paid the taxes his
accountant determined he owed the IRS.
The Scotts are very grateful for the love and support of their family, friends, customers and business associates. Greenville Loop Seafood is open for business and looks forward to a successful summer season.
Copyright 2014 WECT. All rights reserved.
322 Shipyard Boulevard