PHILADELPHIA, PA — Federal prosecutors have charged Thomas Stafford, 76, of Philadelphia, with multiple offenses, including failing to pay over $2 million in trust fund taxes and committing bankruptcy fraud. Stafford, the CEO and President of Information Systems Staffing, Inc. (ISS), now faces serious legal consequences following the unsealing of an indictment.
The charges stem from Stafford’s alleged activities between the first quarter of 2019 and the fourth quarter of 2024. Prosecutors claim Stafford, as the individual responsible for managing ISS’s bank accounts and payroll, deliberately did not pay $2,008,046.63 in trust fund taxes. These taxes, which include Social Security, Medicare, and federal income taxes, were allegedly withheld from ISS employee paychecks but never forwarded to the Internal Revenue Service (IRS). Authorities allege that Stafford used company funds to cover personal expenses instead.
Court documents also outline Stafford’s alleged attempts to conceal his financial situation during a Chapter 13 bankruptcy case he filed in 2023. Prosecutors say his proposed five-year repayment plan of $750 per month to creditors was based on fraudulent claims. He is accused of understating his income and failing to disclose his control over various properties to avoid paying his debts fully.
If convicted, Stafford faces a daunting maximum sentence of 130 years in federal prison. U.S. Attorney David Metcalf emphasized the seriousness of the charges in a statement, while the case remains under investigation by the IRS Criminal Investigation Division. Assistant U.S. Attorney Francis A. Weber and Special Assistant U.S. Attorney Hannah J. McCollum are leading the prosecution.
It is important to note that an indictment is merely an accusation, and Stafford is presumed innocent unless and until proven guilty in a court of law.
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