Three Branson businessmen yesterday were sentenced in federal court to prison for tax evasion, according to a news release from Beth Phillips, U.S. attorney for the Western District of Missouri.
Denver Wood, 35, his father, Thomas Wood, 59, and David Large, 52, appeared separately before U.S. District Judge Ortrie Smith. The younger Wood was sentenced to two years in federal prison without parole and ordered to pay restitution of $181,103 to the Internal Revenue Service; the elder Wood was sentenced to 18 months in federal prison without parole with an order of restitution of $11,581; and Large was sentenced to a year in federal prison without parole and ordered to pay restitution of $198,517, the release said.
They pleaded guilty in November.
The three men owned and operated Vacation Travel Outlet from 2000-04 and Vacation Services of America from 2003-05.
Denver Wood admitted to failing to file income tax returns for 2002, 2003 and 2004, while his father did not file for 2002 and 2003. Large failed to file a tax return 2000-04.
Large admitted that he and his co-defendants attempted to hide income of $1,803,728 from the Internal Revenue Service. To do this, the co-defendants received Vacation Travel Outlet profits via withdrawals and checks drawn off the company's bank account and made out to "cash." Then, they or their spouses would deposit the checks into their individual bank accounts or cash them, according to the release.
They also received Travel Services of America officer compensation.
The case was prosecuted by Assistant U.S. Attorney Randall Eggert. and was investigated by the Criminal Investigation and Special Enforcement Program of the IRS.[[In-content Ad]]
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