Topic: Investigative Reporting
Posted on 3/2/2016
Raycom’s CBS affiliate WBTV Charlotte investigated payroll company Centercede Services for collecting payroll taxes for its clients, but failing to send payments to tax agencies. WBTV discovered that $2 million was diverted “to pay their own exorbitant salaries, to fund lavish expense accounts and to cover growing liabilities, including the tax liabilities of other Centercede clients." As a result of the investigation, two executives pleaded guilty to federal charges. The fraud devastated dozens of local small businesses who had to pay the taxes a second time, often with penalties and interest, on top of legal fees. "We kept getting notices that they (IRS) will garnish our money, bank account, they will seize property," said one victim.
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