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BRIEF: Former owner of All Quotes Insurance gets six months in tax fraud case [Lubbock Avalanche-Journal, Texas]

July 13, 2012
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By Walt Nett, Lubbock Avalanche-Journal, Texas
McClatchy-Tribune Information Services

July 13--A former Lubbock insurance agency owner was sentenced today to six months in prison for filing fraudulent income tax documents.

Richard G. Salinas also must pay a $1,000 fine and was ordered to pay $11,475 in restitution to the U.S. Treasury.

Salinas, who was the owner of the now defunct All Quotes Insurance business, pleaded guilty April 19 before Judge Sam R. Cummings.

According to court documents, Salinas filed W-2 wage reporting forms for employees that didn't exist, which lowered his net profit and taxable income from his business on his 2008 income taxes.

In handing down the sentences, Cummings also linked Salinas' restitution to that which is supposed to be paid by defendants who have pleaded guilty in the Z & Z Bookkeeping and Tax Service tax fraud scheme.

Four people have pleaded guilty in that case of filing fraudulent tax returns that included false employment information. All Quotes Insurance was one of the businesses that the Z & Z tax preparers used in creating phantom employees.

Salinas, who is free on a personal recognizance bond, must surrender to the U.S. Bureau of Prisons by Aug. 17.

To comment on this story:

walt.nett@lubbockonline.com -- 766-8744

leesha.faulkner@lubbockonline.com -- 766-8706

___

(c)2012 the Lubbock Avalanche-Journal (Lubbock, Texas)

Visit the Lubbock Avalanche-Journal (Lubbock, Texas) at www.lubbockonline.com

Distributed by MCT Information Services

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