Rochester, N.Y. – Jeffrey Sykes was sentenced Tuesday to eight years in prison and three years of supervised release by U.S. District Judge David G. Larimer.
He was also ordered to pay more than $3,000,000 in restitution
Sykes had been involved in tax fraud in 2008 and 2009 when he was President of Paybooks, Inc., a payroll service business in Rochester.
Paybooks provided services to about 1,100 clients at the time.
Sykes was responsible for paying withholding employment taxes to the IRS on behalf of clients, but instead he used the funds to operate his company, and to make personal expenditures, according to the Department of Justice.
