Binghamton, NY (WBNG Binghamton) An owner of Aeden Waterford will spend several weekends confined to his home and must pay restitution to about 100 business clients.
William Stiles, 43, of Deposit was sentenced in United States District Court for wire fraud and tax evasion.
Stiles was chief operating officer and part owner of Aeden Waterford, a payroll and human services company in Binghamton.
US Attorney Richard Hartunian said Stiles stole money that was supposed to be forwarded to the IRS to pay his clients employment withholding taxes. Between November 2005 and November 2010 he deposited $$529,607.29 into personal bank accounts for his own benefit. Additionally, Stiles did not pay income tax due on the money.
District Court Judge Thomas J. McAvoy sentenced Stiles to serve twenty four weekends of home confinement and five years supervised release. Stiles was also ordered to pay full restitution to Aeden Waterford clients and $64,466.00 in back taxes to the Internal Revenue Service.
The IRS held Aeden Waterford clients responsible for the money owed in withholding taxes that Stiles had stolen.