GRAND RAPIDS, Mich. – The owner of a Greenville, Michigan roofing business pleaded guilty to tax evasion in federal court Wednesday.
The U.S. Attorney’s Office says that John Snyder, 71, the owner of Snyder’s Roofing, entered the plea for evading taxes between 2009 and 2014. He admitted to underreporting his income by over $6 million over that time.
Snyder faces up to five years in prison and a fine of up to $250,000. The U.S. Attorney says that Snyder agreed to pay restitution of over $400,000, which represents his tax loss and penalties and interest.
U.S. Attorney Andrew Birge says that Snyder purposely deposited less than all of his business income into his business bank account without informing his accountant. Snyder would take checks from customers and sign them over to his suppliers to pay for materials and services, which then made them not show up as taxable income. He also apparently took checks made out to him for roofing services and deposited them in personal accounts and then used some of that cash to pay employees.