New Charges Filed Against Andrew T. Melton

by Gwen Moritz  on Wednesday, Apr. 2, 2014 7:52 pm  

Andrew T. Melton, the former chief financial officer of ThermoEnergy Corp. who was indicted on 12 counts of mail fraud in February 2013, was charged Wednesday with five additional counts of employment tax fraud, according to a press release from the office of U.S. Attorney Chris Thyer of Little Rock.

The new indictment reiterates the 12 original counts, which alleged that Melton used almost $110,000 of ThermoEnergy's money to pay a personal judgment against him and then doctored the company's financial statements to make it appear that the payments were legitimate business expenses.

The new charges allege that between 2005 and 2009, Melton, as CFO, failed to forward to the Internal Revenue Service some $1.9 million in payroll taxes withheld from the paychecks of ThermoEnergy employees.

ThermoEnergy, a publicly traded company, relocated from Little Rock to Massachusetts in 2011. In the summer of 2012, Melton was hired as a consultant for One Bank & Trust, where at least five executives have been under federal investigation. However, the charges against Melton are not related to his work at One Bank.

Melton was scheduled to go on trial for the original charges on Tuesday, but that date was recently moved back to Oct. 7 before U.S. District Judge Billy Roy Wilson.

 

 

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