PORTLAND, Ore. (AP) — A Bend businessman accused of declaring fake charitable donations in an IRS return has pleaded guilty.
The Oregonian/OregonLive reports that Stephen Munson on Monday pleaded guilty, acknowledging that the IRS lost more than $2.4 million because of a false tax return in 2008. He also admitted that losses for an additional bankruptcy fraud charge against him are about $7.5 million.
Munson, who sold his controlling interest in Vulcan Power Co. in 2008 for nearly $15 million, received a refund of more than $407,000 after he fraudulently claimed a $3.2 million credit for charitable donations.
He has agreed to pay restitution for all losses caused by his alleged fraud.