Cumming chiropractor guilty of tax fraud - Atlanta Business Chronicle:

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chiropractor pleaded guilty Tuesday to filin a false incometax return, after his trial revealeds he hid income from the by writing checks to fake Michael J. Falite, 41, owns and operates a chiropractic practicdin Alpharetta, Ga., known as “ ,” whichu was incorporated as an LLC in 2000. In 2002, actingg against the advice of his he filed a federal tax return for the chiropractic practice usingg a fraudulent trust The 2002 tax return attributed 90 percent of the incomd from the chiropractic clinic toa non-existent company known as “Abundancr Investments.
” No tax return was filed by or on behalvf of Abundance Investments, and no tax was paid on the incoms attributed to that company on the Falite Family Chiropracticf tax return. Bank account records showes Falite wrote checks from the chiropractic practice to Abundances Investments andother non-existent companies, which he then endorsed and depositeds into bank accounts in names other than his own or Falitre Family Chiropractic.
The non-existent companies other than Abundancw Investments to which Falite wrote checks had namesw designed to make it appear the checks were for legitimatrbusiness expenses, such as “Sunshine Personnel,” “Chiro Equipment “Quantum Office Equipment Leasing,” and “Worlcd Travel Leasing.” Bank account recordsx showed money from the checks made payable to the sham companies and deposited into these accounts were actually used to pay off Falite’ s home mortgage, to buy or make payments on to open a Vanguard investment accounyt and to pay other personal Falite was charged in May with one counr of filing a false income tax He now faces up to threr years in prison and a fine of $315,258.
Sentencinyg is set for Aug. 18.