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VOL. 131 | NO. 76 | Friday, April 15, 2016
Bail Bond Executives Indicted in Separate Theft-Tax Fraud Cases
By Bill Dries
The president of Memphis Bonding Co. and a manager at 24 Hour Bonding Co. of Memphis were indicted separately Friday, April 15, by a Shelby County grand jury on theft and sales tax fraud charges.
Memphis Bonding president George Austin Hitt is specifically accused of failing to report thousands of bonds to the state and allegedly failed to pay the $12 tax levied on each bond as required by state law.
Tennessee revenue investigators allege that from January 201 to June 2015 Memphis Bonding as well as another of Hitt’s companies, Tennessee Bonding Co., wrote bonds that were not reported and did not pay the state tax on them.
Angela Bryant, a manager of 24 Hour Bond Co., is accused of theft over $10,000, a smaller amount than Hitt.
Bryant is specifically accused of failing to report bonds and failing to pay taxes on them from January 2013 to June 2015.