Sommet Group Principals Plead Guilty

Two of the principals involved in a $20 million fraud scheme at Sommet Group have pleaded guilty in federal court. Sommet Group is a now-defunct company that previously provided third-party human resources services to other businesses. The company's headquarters were based in Franklin, Tennessee. The two principals accepted plea bargains wherein they pleaded guilty to conspiracy and wire fraud. The ringleader in the scheme, however, has maintained his innocence and is awaiting trial in January of next year.

The FBI and IRS were involved in a 2010 raid on the company to obtain evidence against the defendants. The defendants are accused of using client funds illegally, for personal uses and items such as home improvements, a pool, and houseboat as well as huge sums paid to the Nashville Predators. They are also accused of underreporting wages and thus underpaying proper tax liabilities as well as improperly funding their client's retirement plans and health insurance claims. The company was forced into bankruptcy by creditors where a judge found the owners to have committed fraud and misconduct and ordered them to repay $6.9 million to creditors.

The plea bargains of two of the group will likely result in testimony against the ringleader. The two principals who accepted a plea bargain face up to five years in prison and fines of up to $250,000 for conspiracy charges. One of the two faces an additional 20 years in prison on the additional charge of wire fraud.

Criminal Defense Firm in Franklin, Tennessee

The above story is an example of white collar crime which can lead to both state and federal criminal charges. In a federal case, such as above, crimes of fraud may be investigated and prosecuted by such federal agencies as the FBI, IRS, U.S. Postal System, and more. Those who face such criminal charges will need an attorney licensed to practice in federal court and who is experienced enough to meet the challenges of tough federal investigations and prosecutions.

Franklin Law Offices is a criminal defense firm based in Franklin that provides aggressive legal representation for those facing state or federal crimes. Attorney Brian Lee Nash is a tough defender who will thoroughly investigate and review all circumstances leading up and surrounding your arrest and charges and who will work diligently to help you achieve the best possible outcome. He and his legal team are experienced in all facets of the criminal justice system and in all of the ways and methods for skillfully resolving your case. Contact the firm if you are facing any type of criminal charge to get the legal advice and guidance you need to proceed.