A Plano man who ran a successful financial business for years could be headed to prison for cheating on his taxes.
As the owner of the Griggs Financial, 51-year old Raymond Griggs of Plano was good with numbers. In 2013, for instance, Griggs Financial brought in more than $1.3-million in gross receipts, according to court records.
His problem was the IRS was slightly better with numbers.
And when Griggs tried to claim he only made about $340,000 that year the feds quickly caught on.
For instance, federal prosecutors were able to show that he spent $1.4 million for entertainment, travel, jewelry and flight lessons.
A federal court jury found Griggs guilty of making false statements and he could face three years in prison. His profession, Griggs Financial was a tax preparation firm.
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