The owner of a now defunct trucking company in Kansas has pleaded guilty for his role in avoiding paying federal income taxes.
Clifford Copp, 47, pleaded guilty to tax evasion in U.S. District court on Monday, March 28, according to the Office of U.S. Attorney Barry Grissom.
In 2001, Copp allegedly filed reports to the Internal Revenue Service indicating Copp Trucking owed approximately $939,408 in employment taxes for the year. The company, however, did not pay the employment taxes due, a DOJ news release states.
In 2004, the news release says, Copp was assessed trust fund penalties of $669,037. When the IRS tried to collect, Copp hid his income and filed a false statement to attempt a cover up of his investments in livestock, life insurance and farm equipment. He also formed a limousine company and hid his financial interest in the company.
Copp faces sentencing slated for a later date. His sentence includes a maximum penalty of five years in federal prison, restitution and a $250,000 fine.
Copp trucking once employed 300 people and brought in $25 million in revenue before closing its doors in 2001 after 23 years of operations. Copp reportedly said then the company was driven out of business by high fuel prices, labor troubles, and costs related to a truck accident in Iowa.
The case was investigated by the Internal Revenue Service and the U.S. Attorney’s Office.
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