Oklahoma man faces jail time for 1.5 million in fraud and tax evasion
TULSA, Okla. – An Oklahoma man is facing jail time after allegedly committing bank fraud and tax evasion.
He was sentenced to serve 60 months in prison for more than $1.5 million in bank fraud and tax evasion, according to officials.
The 60 month sentence is the maximum prison term for the tax evasion charge.
52-year-old James Gresham, of Tulsa, was sentenced to serve 60 months in federal prison by U.S. District Judge James H. Payne for one count each of bank fraud and tax evasion.
At the time of the scheme, Gresham worked as a controller for Frontier International Trucks where he had access to financial books and records, and was familiar with the company’s bank accounts.
According to court documents, as part of the scheme, Gresham forged company checks and made them payable in his name, then deposit the checks into a personal bank account.
Gresham forged more than 548 company checks and obtained $1,583,157.15 from the company’s bank accounts.
In addition, during the 2010 calendar year, Gresham failed to report the additional income gained from the scheme to the Internal Revenue Service.
He evaded paying a total of $511,627 in taxes owed to the United States.