A former executive of an Oklahoma oil distribution company is sentenced to five years in prison for filing over $10-million in false excise tax refund claims with the IRS.
In a news release, U.S. Attorney R. Trent Shores says 44-year-old Jack Clark of Clark Oil Distributors in Sapulpa and Oklahoma City filed nearly two dozen fraudulent claims for gasoline tax refunds for fuel sold to tax-exempt organizations.
“White-collar crime undermines the rule of law and disrupts the marketplace. It destroys lives and livelihoods. Our goals are to hold accountable perpetrators like Jack Jim Clark, who break the law to enrich themselves, and to seek restitution for victims of financial crimes
The Justice Department says Clark used the money to fund an extravagant lifestyle, including a $4-million home in Oklahoma City.
The release adds, Jack Clark will have to pay back all the money to the IRS.