(Washington) -- A Greensboro man is facing 12 years in prison following his conviction last year for payroll tax fraud and failing to file individual income tax returns.
Federal officials said Bruce Gregory Harrison III was sentenced Wednesday.
Harrison was convicted on a 63-count indictment last December. Evidence at trial and at sentencing showed that Harrison failed to pay more than $40 million in federal taxes withheld from the pay of his thousands of employees for his Guilford County-based businesses between 2004-2006 and 2009.
The evidence showed Harrison presented false bank statements to auditors to conceal the nonpayment. It also showed he used company funds to purchase homes, a yacht and to finance commercial motion pictures.
Harrison was also convicted of failing to file personal income tax returns between 2004 and 2006.