Binghamton-Area Businessman Admits $700,000 Theft and Tax Evasion

Richard S. Hartunian, United States Attorney for the Northern District of New York; Clifford C. Holly, Special Agent in Charge of the Albany Division of the Federal Bureau of Investigation; and Toni Weirauch, Acting Special Agent in Charge, New York Field Office, Internal Revenue Service-Criminal Investigations, make the following announcement:

William P. Stiles, 42, of Deposit, Broome County, New York, pled guilty today in United States District Court to the felony crimes of wire fraud and tax evasion. Sentencing is scheduled for December 21, 2012, at 9:30 a.m. in Binghamton.

In entering his guilty plea before Senior United States District Court Judge Thomas J. McAvoy, Stiles admitted that, as chief operating officer and part-owner of Aeden Waterford Inc. (AWI), a payroll and human services company located in the city of Binghamton, he stole a total of more than $700,000 from approximately 100 business clients of AWI between November 2005 and November 2010.

The money stolen by Stiles was supposed to be used by Stiles to pay client employment witholding taxes but instead was deposited by Stiles into Stiles’ personal bank accounts. Stiles used the funds stolen from AWI clients for his own personal benefit. Stiles further admitted he evaded income taxes due on the stolen money.

Stiles faces a maximum penalty of 20 years’ imprisonment and a $250,000 fine. The case was investigated by the Internal Revenue Service-Criminal Investigation and the Federal  Bureau of Investigation, Binghamton Resident Office and is being prosecuted by Assistant United States Attorney Thomas P. Walsh. Further inquiries may be directed to the United States Attorney’s Office, Binghamton Branch Office, at (607) 773-2887.