Texas Man Who Spent $20M of Employees' Taxes on Luxury Cars, Vacations Gets 30 Months in Prison

A Houston-area man will spend 30 months in jail and must pay more than $20 million to the IRS after he admitted using the money to fund a lavish lifestyle instead of paying employment taxes.Jonathan Adam Van Pelt, 49, pleaded guilty in November to willful failure to account for and pay over taxes to the IRS. He was sentenced Thursday in a federal courtroom in Houston.  Continue reading...