A resident of Pompano Beach, FL, Timothy Beverley was sentenced to 90 months in prison for filing fraudulent tax returns, wire fraud and filing false monthly reports with the U.S. Probation Office.
From 2010 to 2013, while working as an airplane broker at Majestic Jet, Inc., Beverley would direct the airplane escrow agents to wire funds from the sale of planes to nominee accounts that he controlled. It was shown in court that the amount Beverley stole during this time was over $2.2 million. In addition, Beverley stole funds directly from the business bank accounts of Majestic and used the funds to pay for his personal expenses, including his boat and rent.
Beverley did not disclose these stolen funds on his 2010-2013 personal income tax returns.
While working at Majestic, Beverley was on supervised release for a 2004 federal conviction for money laundering. Part of his conditional release required him to file monthly reports with the U.S. Probation Office that listed his net earnings from his employment. Beverley failed to report the stolen funds on his reports.
Beverley’s sentencing included three years of supervised release as well as payment of restitution to the U.S. Treasury in the amount of $634,906.
