Lalo Valdez and Matthew Olson pleaded guilty to failing to pay $3.6 million in employee taxes owed to the IRS. Over four years, they withheld taxes from their employees but used the funds for personal expenditures, including hockey tickets and country club memberships. Valdez managed a health informatics company while Olson partly owned a day spa, both having responsibilities for collecting and remitting employee taxes. They now face a maximum of five years in prison, monetary penalties, and restitution to the IRS, with sentencing scheduled for October 20.
The two men misappropriated $3.6 million in employee taxes meant for the IRS, instead using the funds for their personal luxuries, like hockey tickets and country club memberships.
For over four years, Valdez and Olson failed to pay employment taxes they withheld, leading to significant losses for the IRS and personal gain for the pair.
Collection
[
|
...
]