Payroll Business Owner Charged in Money Laundering
ST. LOUIS (AP) - The owner of a Fenton payroll services company has been indicted on felony mail fraud and money laundering charges involving his clients' unpaid taxes.
Bradley Ferguson of Paymaster Business Solutions is accused of withdrawing money from his business clients' banks accounts since 2005 to pay federal, state and local taxes but not paying those debts. He then withdrew more than $2.7 million from client accounts over the last six months of 2013 in an attempt to cover the tax payments after IRS inquiries.
The Washington, Mo. resident was indicted Wednesday in federal court in St. Louis. He is also accused of shredding client records. He faces a maximum penalty of 25 years in prison and fines up to $250,000, as well as possible restitution payments.