Deposit Man Sentenced For Theft, Tax Evasion
A Broome County man who stole more than a half-million dollars from clients of his Binghamton payroll services company has been sentenced to weekend incarceration.
Prosecutors say 43-year-old William Stiles of Deposit was sentenced Wednesday in United States District Court in Binghamton by Judge Thomas McAvoy.
Stiles had been chief operating officer and a part-owner of Aeden Waterford Incorporated.
Officials say Stiles stole more than $500,000 from about 100 company clients over a five-year period.
The stolen money was intended to pay client employment withholding taxes but Stiles deposited it into his bank accounts.
Stiles also acknowledged he didn’t pay taxes on the stolen money.
Stiles was sentenced to 24 weekends of incarceration for wire fraud and tax evasion. In addition to home confinement, he also was ordered to pay back more than $529,000 to those whose money he stole. He was directed to pay more than $64,000 in back taxes to the IRS.