SALT LAKE CITY, Utah, Sept. 1, 2020 (Gephardt Day by day) — A Riverton man has pleaded responsible in federal courtroom to working an unlicensed cash switch enterprise.
Justin Peck, 47, entered a plea of responsible to at least one depend of working an unlicensed cash transmitting enterprise in federal courtroom in Utah just lately, admitting that he owned a number of corporations that have been working as unlicensed cash transmitting companies from as early as 2012 via someday in 2019, a press release from the Division of Justice says.
“As part of a plea settlement reached with federal prosecutors, Peck stipulated that his corporations that didn’t adjust to federal regulation and laws for cash transmitting enterprise registration necessities.
“Particularly, Peck admitted he obtained checks from common contractors for drywall labor. He cashed these checks and ship the cash to subcontractors or different people who have been chargeable for paying the laborers. For his companies, Peck would preserve a payment of 6-10% of the contractor’s verify. From 2012 via 2019, Peck transmitted at the least $58,248,103.38.”
Investigators consider the aim of the enterprise was to keep away from employment taxes and better staff compensation premiums, the assertion says.
Peck waived indictment and was charged in a Felony Info filed in July 2020.
“Peck earned vital revenue via his enterprise and didn’t report it on his private taxes. As part of his plea settlement, Peck agreed to file correct and full private tax returns for the tax years 2012-2017. He additionally agreed to forfeit his curiosity in property.”
Peck faces as much as 5 years in jail when he sentenced Nov. 5, 2020, by U.S. District Decide Howard C. Nielson, Jr.