In 2006, three brothers opened the largest liquor store in the world with a store area of over 100,000 square feet. Now in 2011, after a routine check in 2008, the owners are facing indictment for various white collar crime charges in Colorado, according to The Denver Post.
The 52-count indictment includes charges of racketeering, violating the Colorado Organized Crime Control Act, and tax violations. The brothers allegedly falsified merchandise returns for millions of dollars worth of products that never existed, some of which they even created names for. After some investigation, it was determined that the brothers performed at least 4,400 fake product returns as well as conducted over $5 million of business outside of normal business hours and in cash. Furthermore, the family allegedly violated Colorado liquor laws by running a second store in Highlands Ranch under “hidden ownership.”
By under-reporting their sales, the owners allegedly underpaid city and state taxing authorities a total of $470,000 during the 18 month period between January 2007 and August 2008, according to the Denver District Attorney’s Office. Arrest warrants have been issued.
Aggressive prosecution and harsher penalties have accompanied the increasing incidents of white collar crime in Colorado and across the nation. Though white collar crimes are not violent crimes, they tend to involve people who abuse the position or privileges they hold for their own gain and at the expense of others.
If you have been accused of committing a white collar crime in Colorado, reputed Colorado Springs white collar crime defense attorney Timothy Bussey, of The Bussey Law Firm, P.C., can help you build a strong and aggressive defense in order to protect your financial and professional future. Do not hesitate to contact Mr. Bussey today to learn more about your legal options at 719-475-2555.