RICHLAND — A CEO accused of stealing from his Pasco biofuels company pleaded guilty to tax crimes.
The Tri-City Herald reported that Michael Spitzauer pleaded guilty in federal court Thursday to failing to file a tax return one year and filing a false tax return another year. As part of the deal he acknowledged defrauding investors of $10.4 million and using the money to pay back previous investors and for personal expenses, such as his $1 million Kennewick mansion.
The recommended sentence is four years in prison.
Spitzauer was federally indicted on wire and bank fraud, aggravated identity theft, money laundering, tax evasion and lying on his federal tax return. He’s been in federal custody since December 2013.
Last week he withdrew a guilty plea to wire fraud and tax evasion.
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