According to court records, Craig was the co-owner, Secretary, Treasurer and Chief Financial Officer of TCB Industries, Inc., an offshore oilfield fabrication and services company which had a workforce ranging from 216 to 679 employees and located in Abbeville.
Craig pled guilty on January 10, 2008, to one count of Willful Failure to Collect or Pay Over Tax for the fourth quarter of 2002.
The investigation by Internal Revenue Service Criminal Investigation revealed that Craig withheld and collected employment taxes from her employees. She then filed false Employer’s Quarterly Federal Tax Returns, IRS Forms 941, that significantly under-reported TCB’s employment taxes. Craig failed to send the Social Security Administration Forms W-2 for TCB’s employees. This prevented routine computerized checks from revealing that CRAIG filed false IRS Forms 941. Additionally, TCB’s employees did not receive credit for their earnings. If not corrected, hundreds of TCB’s employees would have received lower social security checks when they retired.
Michael J. De Palma, IRS Special Agent in Charge, stated:
“IRS Criminal Investigation understands the very real consequences this type of crime has not only because of the loss of tax revenue to the United States government, but because of the loss of future social security or Medicare benefits for employees.”
This case was investigated by Special Agents with the Internal Revenue Service, Criminal Investigations in the Lafayette office and is being prosecuted by Department of Justice Tax Division Attorney Michael C. Boteler.