'Yesterday he paid full price with a guilty plea': Triangle CEO pleads guilty to filing false tax returns

Raleigh business owner Alton Perkins pled guilty Monday for failing to account for approximately $3 million from his companies.

None of the approximately $3 million spent by Perkins was accounted for in his taxes filed with the IRS.

According to evidence presented in court, for the tax year 2016, Perkins stated that his total income was $21,933. However, banking records show that Perkins spent $1,208,394 that year on personal items including, a golf cart, a family trip to Hawaii, private high school tuition and a Rolex – all with funds taken from Perkins' corporate bank accounts.

“Hardworking, taxpaying Americans deserve to know that the government will hold accountable tax cheats who dodge paying their fair share,” said U.S. Attorney Michael Easley. “This CEO tried to dodge paying his due by diverting company money to pay for vacations, expensive jewelry, and private school tuition. Yesterday he paid full price with a guilty plea."

Evidence showed that Perkins moved large amounts of money from his business accounts into his personal bank accounts. These funds were then used for personal expenditures.

“People who create elaborate schemes that have no purpose other than to mislead others and defraud the IRS run the very high risk of prosecution," said Donald “Trey” Eakins, Internal Revenue Service (IRS) Criminal Investigation Special Agent in Charge of the Charlotte Field Office.

Perkins is the chairman and CEO of AmericaTowne, a company, according to its website, focused on increasing exports of American products to China. AmericaTowne, which was funded by investor dollars, included a plan to build an American-style community in China that would include hotels, small businesses and a theme park.

Perkins is currently involved in a civil lawsuit with the U.S. Securities and Exchange Commission over the unregistered private placement offerings and the sale of securities for AmericaTowne and other business entities controlled by Perkins.

He faces up to three years in prison. According to the plea agreement, Perkins will make restitution in the amount of $520,344 to the IRS for taxes owed from 2015 to 2018.