Florida Owner of Payroll Company Admits to Worker Tax Swindle
Martin County Business Owner Pleads Guilty to Employment Tax Fraud
Matthew Brown, the owner of Elite Payroll, a payroll services company based in Martin County, has pleaded guilty to employment tax fraud and filing a false tax return. The announcement was made by the Department of Justice (DOJ) and U.S. Attorney Markenzy Lapointe for the Southern District of Florida.
Between 2014 and 2022, Brown withheld Social Security, Medicare, and federal income taxes from employees' wages. However, instead of transferring these funds to the Internal Revenue Service (IRS) as required, Brown pocketed the money, totaling over $22 million.
The stolen funds were meant to be held in trust for Elite Payroll's clients and paid to the IRS on their behalf. Brown used these funds to purchase luxury assets, including a multimillion-dollar home, commercial and residential real estate, a Valhalla 55 Sport Yacht, a Falcon 50 Aircraft, and a collection of luxury cars, including Ferraris, Porsches, and Rolls Royces.
Brown was charged with employment tax fraud and is facing a maximum prison sentence of five years. He may also be required to pay restitution and monetary penalties. The federal district court judge will determine Brown's sentence after reviewing the U.S. Sentencing Guidelines and other statutory factors. The sentencing date has not yet been set.
The case was investigated by IRS Criminal Investigation, and former Assistant U.S. Attorney Diana Acosta contributed to the investigation. The case is being prosecuted by Trial Attorneys Andrew Ascencio and Ashley Stein of the Tax Division and Assistant U.S. Attorney Michael Porter for the Southern District of Florida.
It is important to note that there are no publicly available search results or records indicating a sentencing date for Matthew Brown related to Florida Elite Payroll employment tax fraud. To obtain sentencing information, it may be necessary to check official court records or legal databases directly.
This is a developing story, and more information will be provided as it becomes available. Stay tuned for updates on this case.
The stolen funds, which amounted to over $22 million, were initially meant to be held in trust for Elite Payroll's clients and used to pay their taxes to the IRS. Instead, Matthew Brown, the owner of Elite Payroll, utilized these funds to purchase luxury assets such as luxury cars, a multimillion-dollar home, commercial and residential real estate, a Valhalla 55 Sport Yacht, and a Falcon 50 Aircraft (finance, business, general-news).
The admitted employment tax fraud case of Matthew Brown, the owner of Elite Payroll, also involves alleged crimes committed in the realms of luxurious acquisitions, including Ferraris, Porsches, Rolls Royces, a multimillion-dollar home, commercial and residential real estate, a Valhalla 55 Sport Yacht, and a Falcon 50 Aircraft (crime-and-justice).
