Just like Al Capone, a debt collector already on the industry’s naughty list has been tripped up by not filing his income taxes.
Dorian Wills allegedly owes more than $1.2 million in unpaid income tax for money he earned while operating a string of collection agencies that allegedly engaged in illegal activities in trying to collect debts. He has agreed to plead guilty to income tax evasion and is facing up to five years in prison.
Wills, who was previously investigated by the Federal Trade Commission for his role in a scam debt collection operation, used a string of collection agencies from Georgia to Ohio and a number of merchant accounts to funnel payments through. The names of the companies used in the scam were Heritage Capital Services LLC; Performance Payment Processing LLC; Performance Payment Service LLC; Pinnacle Payment Service LLC; and Velocity Payment Solutions LLC.
Like most scams, Wills and his cohorts used intimidation and threats to induce individuals to make payments on debts that did not exist.
Wills’s companies earned as much as $9 million in three years, none of which was reported to the Internal Revenue Service, prosecutors alleged. As a result, Wills is said to owe $1.21 million for the years 2011 through 2013.
He is scheduled to be sentenced in August.
