Feds Say Owens Did Not Pay $570K in Payroll Taxes

CLEVELAND -- David S. Owens, the owner of three businesses based in Canfield, is charged with one count of failure to account for and pay more than $570,000 in federal employment tax. The bill of information was announced Tuesday by Steven M. Dettelbach, United States attorney for the Northern District of Ohio.

Between 2008 and 2009, Owens, through his Canfield-based Advetech, Inc., made payroll tax withholdings from his employees’ paychecks, but failed to pay over those withholdings to the Internal Revenue Service in the approximate amount of $570,000, according to the information.

Instead, Owens transferred hundreds of thousands of Advetech, Inc. dollars to at least two other Canfield companies that he owned and operated: Brixton Development Corp. and Preferred Communities Inc., from where he took hundreds of thousands of dollars in income for himself, according to the information.

Owens lives in Columbus.

The bill of information was filed by Assistant U.S. Attorney Christos N. Georgalis after an investigation by agents of the the Internal Revenue Service and the U.S. Department of Labor.

If convicted, the defendant’s sentence will be determined by the court after a review of factors unique to the case, including defendant’s prior criminal record, if any, defendant’s role in the offense, and the characteristics of the violation, the government noted.

Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our twice-monthly print edition and to our free daily email headlines.