Missouri accountant pleads guilty to fraud, tax evasion
Wednesday, March 23, 2011
KANSAS CITY, Mo. (AP) — A certified public accountant from southwest Missouri has pleaded guilty in federal court to two counts of mail fraud and one count of tax evasion.
The Justice Department says that as part of Tuesday’s plea, Murphy Hubbard, of Springfield, has agreed to a 42-month prison sentence. He must also pay restitution to the IRS and a pair of family trusts from which he embezzled more than $400,000.
Prosecutors said two families — one from Springfield, the other from Rogersville — placed trusts under Hubbard’s control. One designated four charities as the beneficiaries of a woman’s life savings. The other was supposed to fund the educations of a man’s heirs and relatives.
Hubbard admitted keeping most of the money for himself, spending it on cars, farm equipment, travel and other items.