News

Actions

Lakewood man sentenced to jail, will pay $1.8 million in tax fraud case

Web_Promo_Image_960x720.png
Posted at 9:21 PM, Aug 19, 2016
and last updated 2016-08-19 21:21:33-04

A Lakewood man has been sentenced to jail time and ordered to pay nearly $1.8 million in restitution and fines after being convicted on four counts of tax fraud. 

Thomas Klocker, 47, built a waterfront home and maintained a 68 foot Sunseeker yacht using funds diverted from his company All Metal Sales, according to official court documents. 

“This defendant tried to take the government on a ride by claiming costs associated with cruises on his luxury yacht as business expenses,” said Carole Rendon, United States Attorney for the Northern District of Ohio. “Now he has to pay up, both financially and with his freedom.”

RELATED: Lakewood man federally charged

Klocker diverted corporate funds from All Metal Sales and TT Charter Leasing, a company he also operated, to benefit his personal lifestyle and avoid income liabilities between 2007 and 2010. Authorities say he also misrepresented his personal expenses in AMS' records by falsely declaring them as legitimate business costs. 

“Tax evasion is not a victimless crime," said Kathy Enstrom, a special agent with the IRS. "We all pay when others swindle the government. Tax evasion and tax fraud of this magnitude and with this degree of trickery, dishonesty and deceit, deserves to be punished."