South Jordan accountant to pay $140K for tax evasion

SALT LAKE CITY — A South Jordan accountant has been ordered to pay nearly $140,000 for failing to pay taxes. David Leo Bankhead, 52, the owner of Professional Business Accounting LLC, submitted false W-2 forms for himself and failed to pay state withholding funds for employees at his accounting business between 2002 and 2007, according to the Utah Attorney General's Office.

"An accountant, above all others, should be held accountable for paying taxes for himself and his employees," said Utah Attorney General Mark Shurtleff. "This sentence should send a clear message that no one is above getting caught cheating on taxes."

Bankhead pleaded guilty in 3rd District Court on Sept. 15 to one count of unlawful dealing with property by a fiduciary, a second-degree felony, and tax evasion, a third-degree felony. He was sentenced last month and has already paid $70,000 in restitution.

Third District Judge Judith Atherton has now ordered Bankhead to pay the state another $68,229, plus interest. Bankhead was placed on probation for six years and will be monitored electronically for the six months. He was also ordered to serve 250 hours of community service and pay $2,500 for the electronic monitoring.

During his probation, Bankhead is forbidden from acting as a fiduciary for another person's finances.