A Columbus man is charged in a 12-count indictment, accused of bank fraud, bankruptcy fraud and criminal contempt.
Robert Jeffrey Johnson, 44, is accused of defrauding financial institutions, bankruptcy court, and the Internal Revenue Service out of millions of dollars by filing false documents in his construction company's bankruptcy case and spending borrowed money and money withheld from employees' paychecks to pay taxes on his personal expenses instead.
IRS agents arrested Johnson near his residence in Miami Beach, Florida on August 30, 2010.
He will return to Columbus for an arraignment on the indictment at a date to be determined.
The indictment includes one count each of bank fraud, bankruptcy fraud, criminal contempt, and destruction or falsification of records in federal investigations and bankruptcy.
The indictment also contains two counts of money laundering and five counts of willful failure to collect or pay over tax.
The indictment alleges that Johnson, president of Smith and Johnson Construction Company, borrowed $20 million from lenders in 2004 and 2005 to fund company operations, but instead used the money for personal expenses including the purchase of vehicles and a condo in Miami, Florida.
The indictment alleges that Johnson filed false documents as part of the company's bankruptcy filing in 2006, hid assets from the bankruptcy trustee and failed to turn over all financial records to the bankruptcy trustee.
Johnson allegedly defrauded the IRS in the amount of $1,334,052.27 in 2005 and 2006 by withholding funds from employees' paychecks for taxes and failing to pay the funds to the IRS.
The indictment seeks forfeiture of assets worth $12 million, representing the proceeds of the alleged crimes.
Bank fraud is punishable by up to 30 years imprisonment.
Destruction of records is punishable by up to 20 years imprisonment.
Criminal contempt is punishable by ten years imprisonment.
Each money laundering count carries a potential penalty of up to ten years imprisonment. Each of the other crimes is punishable by up to five years imprisonment.
An indictment is merely an accusation.
A defendant should be presumed innocent unless and until proven guilty in court.
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