Trucking Company CEO Admits Using Fake Trucking Companies to Scam IRS
Fayetteville, AR – The owner of a trucking company and a foods service business pleaded guilty to two counts of tax fraud last week in U.S. District Court after IRS investigators discovered he engaged in a scheme involving fraudulent trucking companies.
Donald Tankersley, 76, of Fort Smith, entered his guilty plea on September 19, according to a statement from Duane Kees, United States Attorney for the Western District of Arkansas.
Court records show Tankersley is the owner of the White Dairy Ice Cream Company, Inc. (WDIC), and retired from his position as C.E.O. in October of 2018.
WDIC also includes JR’s Trucking and Tankersley Food Service, which supplies food to restaurants, schools, and government entities in Arkansas, Texas, Oklahoma, Kansas and Missouri.
WDIC employs approximately 250 people.
IRS investigators discovered a fraudulent scheme in which Tankersley siphoned funds from WDIC by having checks created from WDIC accounts and made out to non-existent trucking companies.
Tankersley admitted he collected and deposited the checks into his personal bank accounts, directed others to either deposit the checks into his personal bank accounts or cash the checks for his personal use, Keys said.
According to prosecutors, more than $93,000 in fraudulent checks were written from January through November 2013 to companies with names such as: GRO Trucking, MSE Trucking, K&B Trucking, B&B Trucking and CY Trucking.
Individual check amounts ranged from $3,081 to $5,218, prosecutors said.
Further, court records indicate that in 2013, Tankersley falsified the corporate tax returns for WDIC by reporting the checks to non-existent trucking companies as corporate expenses.
As a result of the scheme, it reduced WDIC’s corporate tax liability and caused a tax loss for the 2013 WDIC corporate tax return, documents show.
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Tankersley did not report these checks as personal income in 2013, despite many of them being deposited into his personal bank accounts, Keys said.
Tankersley admitted in his plea that this false omission from his personal tax returns also resulted in a tax loss.
According to court records, Tankersley has agreed to pay restitution to the IRS for a total tax loss of $188,198.
He will be sentenced at a later date, Keys said.
Tankersley faces a maximum sentence of 3 years in prison for each count.
Photo courtesy of Tankersley Food Service/YouTube
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