He embezzled more than $750,000 and did not report the money as income on tax returns.
The former president of a healthcare company pleaded guilty to embezzlement and tax evasion.
According to court records, Robert R. Burton, 50, of Madisonville, Louisiana, was the president of Nashville-based Omnis, which sold diabetic testing kits.
Burton admitted that from December 2013 through January 2017, he embezzled approximately $763,887 from Omnis by submitting false and fraudulent reimbursement requests to the controller of Omnis, claiming that he had purchased supplies and incurred travel expenses which he had not. To justify his reimbursement requests, Burton fabricated receipts to include with his fraudulent reimbursement requests.
Burton also failed to report the embezzled funds on his personal tax returns for tax years 2014 through 2016 and failed to timely file his 2017 personal tax return. In addition, he provided false income information to his tax return preparer by omitting the embezzled income. The total loss to the IRS for tax years 2014 through 2017 is $295,129.
Burton also admitted that he frequently submitted false travel expense reimbursements and travel advances, claiming approximately $203,747.83 for trips he did not take.
Burton faces up to 20 years in prison on the charge of wire fraud and up to five years in prison on the charge of tax evasion, and a fine of up to $250,000 on each count.