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Allied Roofing owner pleads guilty to $1.45M loan fraud
4/19/2017 4:37 PM
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A former Republic business owner pleaded guilty today to providing false information in order to receive a $1.45 million loan and failing to pay employment taxes. The statement comes just seven months after the man filed Chapter 7 bankruptcy on a business that had been closed three years.
Clint Tackitt, 43, waived his right to a grand jury and pleaded guilty before U.S. Magistrate Judge David Rush, according to a news release from Tom Larson, acting U.S. Attorney for the Western District of Missouri.
In May 2012, Tackitt applied for a $1.45 million Small Business Administration-guaranteed loan for his company, Allied Roofing Systems LLC. In today’s pleading, Tackitt admitted the loan application he submitted to Guaranty Bank was false and incomplete.
According to the release, Tackitt failed to disclose all of his financial debts as required and failed to truthfully disclose an accurate financial status of his company or a complete listing of the debts he and his business owed – in that the company was heavily in debt and was about to claim bankruptcy. Tackitt also failed to disclose that a third party assisted him in the preparation and presentation of the application.
In addition, Tackitt admitted he failed to pay the government $262,066 in payroll taxes he collected from his employees and $395,699 for the employer’s share of FICA taxes.
Beginning in the second quarter of 2012 and continuing until the dissolution of Allied Roofing on Dec. 31, 2013, Tackitt collected federal employee taxes from the salaries paid to the individuals employed with his company, according to the release.
The year before, Allied Roofing was honored as part of Springfield Business Journal’s Dynamic Dozen fastest growing companies. The company, which operated at 655 S. Campbell Ave., in 2010 posted revenue of $6.05 million,
ranking it No. 8
with three-year revenue growth of 42 percent.
In September 2016, Tackitt
filed Chapter 7
on the business
which closed in November 2013
, according to SBJ archives. Co-signed by debtors Tackitt and Neena Gill, the filing comprises debt from three businesses: Allied Roofing, Allied Air Systems LLC and Alpha Tots Learning Inc. The filing listed less than $50,000 in assets against $1 million to $10 million in liabilities.
Up to 49 creditors were named, including the IRS, with a $318,256 claim; American Express, at $212,112; Bank of Iberia, at $100,000; and the Missouri Higher Education Loan Authority, at $40,000.
Leading up to the company’s closure, Tackitt cited myriad clients who were behind on payments owed to Allied Roofing. He told SBJ at the time the company’s doors closed, $1.7 million in accounts receivable were still owed. Allied Roofing also was cited for four safety violations in 2011 by the Occupational Safety and Health Administration for an Omaha, Neb., project where employees were exposed to fall hazards.
According to the district attorney’s release, Tackitt must forfeit to the government $1,324,878, which was derived from the proceeds of his criminal conduct. Under federal statutes, Tackitt is subject to a sentence of up to 35 years in federal prison without parole.
A sentencing hearing will be scheduled after the completion of a presentence investigation by the U.S. Probation Office.
This case is being prosecuted by Assistant U.S. Attorney Patrick Carney and was investigated by IRS Criminal Investigation, the FBI and the Small Business Administration.
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