An Elizabeth man has been sentenced to five years in prison after he was convicted of bankruptcy fraud and tax evasion.
Joseph Randall Boswell Sr., 53, was sentenced to 60 months in prison followed by three years of supervised release. A hearing will be held in June to determine what restitution he will have to pay.
Back in April 2022, Boswell was convicted of these crimes by a federal jury. Evidence presented at the trial established that Boswell knowingly and fraudulently concealed property from the United States Bankruptcy Trustee and his creditors through his Chapter 7 Bankruptcy case which he filed in September 2011. Specifically, Boswell concealed money earned from nominee business and service contracts that could have been paid to his creditors.
The evidence showed he attempted to defraud the government by withholding information from the Bankruptcy Court regarding the amount of income he was actually making and property he had an interest in. The defendant was self-employed and withheld information from the court as to companies that he had control of through other family members. These companies were established in the names of other family members in an attempt to hide the fact that Boswell was controlling and manipulating the business activities for these companies and earning income through contracts negotiated by him.
Boswell was also convicted of attempting to evade and defeat payment of income taxes due and owing by him for the tax years 2001 through 2009. The jury decided he concealed assets from the Internal Revenue Service by putting them in the names of other family members in order to avoid paying income taxes owed by him of over $597,000.
“This defendant spent years of his life finding ways to avoid paying taxes and creditors that he borrowed money from through his web of lies and deception,” said U.S. Attorney Brandon B. Brown. “The agents and attorneys handling this case worked countless hours to untangle that web of lies that he wove, and I commend them for their tireless work in bringing him to justice. The bankruptcy and tax laws which have been established in this nation must be obeyed and we will continue to hold those who choose not to do that accountable.”
“Bankruptcy laws are in place to provide debtors a fresh start when they are honestly unable to pay their debts and obligations,” said James E. Dorsey, Special Agent in Charge, IRS Criminal Investigation, Atlanta Field Office. “Boswell used these laws to avoid paying his creditors and taxes although he had the resources. His sentence today should be a warning to those seeking to fraudulently use bankruptcy laws to avoid paying their creditors.”
The case was investigated by the Internal Revenue Service Criminal Investigation, and the United States Trustee’s Office, and prosecuted by Assistant U.S. Attorneys Cytheria D. Jernigan and Earl M. Campbell.
