A St. Charles man charged with wire fraud and evading income taxes was sentenced to federal prison Wednesday after a transaction involving a Huntley business.
Christopher A. Jansen, 64, created a Delaware corporation, DFCTC Holding Inc., to buy DFC Transportation, a trucking company headquartered in Huntley that was up for sale in 2001, according to a news release from the U.S. Attorney’s Office.
In a plea agreement, Jansen admitted to arranging for DFCTC to buy DFC with money Jansen would borrow using DFC receivables as collateral, the release stated.
Jansen was the former president of Baytree Investors Inc., a defunct St. Charles company, the release stated. He also admitted to arranging for other people to be the owners of DFCTC, some of whom were previous investors in failed Baytree business acquisitions, the release stated.
Jansen pretended to be the corporate secretary in charge of both DFCTC and DFC, without any appointment or authority, the release said. The release also stated he arranged for DFC to use its receivables to borrow more money from a bank and ordered employees to transfer money from DFC to DFCTC.
The money was distributed to Jansen and others for personal use and benefits, the release stated, and was not disclosed to the shareholders and directors.
In March 2002, Jansen ordered a $250,000 wire transfer from a DFC account to a DFCTC account for the benefit of himself and others, the release stated.
Jansen, who pleaded guilty in October 2008, also admitted he failed to file a federal income tax return for 2002. Jansen used a bank account in the name of a dissolved corporation, Talcott Financial Corp., to receive his income and disburse his expenditures, and intentionally did not have Talcott file informational forms with the IRS.
Jansen also admitted he intentionally did not have Baytree and DFCTC file with the IRS, and did not have a bank account in his own name to avoid easy tracing of his income and avoid reporting to the IRS, the release stated.
Jansen was sentenced to 70 months in federal prison, followed by three years of supervised release. He was ordered to pay $269,978 in restitution, the release stated.