Middletown demolition company owner gets four years for fraud, tax offences
William C. Holley, age 45, of Middletown, was sentenced Thursday afternoon by United States District Court Judge Sue L. Robinson to 48 months of imprisonment and a three-year term of supervised release.
In March, Holley was convicted after a jury trial, along with his co-defendant, Joseph Funk, of one count of conspiracy to defraud the United States and one count of conspiracy to commit wire fraud. Holley was separately convicted of 12 counts of tax evasion and 3 counts of willful failure to account for and pay over taxes. Funk was separately convicted of nine counts of retirement fund fraud. Fund did not appear for sentencing and is now considered to be a fugitive.
Holley and Funk were the President and Vice President, respectively, of a Wilmington-based demolition company, Holley Enterprises, Incorporated (“HEI”). From 2004 through May 2007, jurors agreed that Holley engaged in a number of fraud schemes designed to retain monies that were legally owed to the United States government, to his employees and to union benefit plans.
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