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Payroll-Company Owner Gets Two Years in Prison for Taking Client Funds
July 12, 2012
(Knight Ridder/Tribune Business News)
The owner of a Central Florida payroll company was sentenced to two years in federal prison Thursday for taking thousands of dollars from clients that was supposed to be submitted to the Internal Revenue Service but which he kept instead.
Luis Armando Ferrer, who owned Florida Employer Services Inc., pleaded guilty earlier this year to 16 counts of failure to account for and pay FICA and income taxes.
Ferrer admitted in his plea agreement that he collected money from his payroll clients, including the Mustard Seed of Central Florida charity, but didn't pay the funds to the IRS as dictated in service agreements. Ferrer mainly used the money to start a landscaping company, Florida Outdoor Impressions. For the tax year 2005, Ferrer collected but failed to pay about $200,000 from six clients.
2012 The Orlando Sentinel (Orlando, Fla.)
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