Owner of metal and salvage business pleads guilty to tax evasion

The owner of a Charlotte-area metal and salvage business pleaded guilty to tax evasion Wednesday, Acting U.S. Attorney Jill Westmoreland Rose said.

Sammie Marks, 41, of Matthews, appeared before U.S. Magistrate Judge David Keesler and admitted to concealing from the Internal Revenue Service personal earnings from his Marks Metal & Salvage, Rose said.

Between tax years 2009 and 2013, court records show, Marks deposited checks and cash receipts from his business and its customers totaling over $1.1 million into his personal bank account, which he did not include as income reported to the IRS. Marks failed to disclose or provide records of his bank account and other information about his income to his tax return preparer, prosecutors said.

Marks also failed to report the additional income on his individual tax returns filed with the IRS, according to court records. As a result of the unreported gross receipts, Marks had additional taxable income of $158,614, records show.

The tax evasion charge carries a maximum punishment of five years in prison and a $250,000 fine.

As part of his plea agreement, Marks has agreed to pay restitution, the amount of which will be determined by a judge at Marks’ sentencing hearing, which has yet to be scheduled. Marks was released on bond after his court appearance Wednesday.

This story was originally published July 1, 2015 at 2:51 PM with the headline "Owner of metal and salvage business pleads guilty to tax evasion."