United States Attorney David Metcalf has announced charges against Thomas Stafford, 76, a resident of Philadelphia, Pennsylvania, for tax and bankruptcy fraud. Stafford, who served as CEO and President of Information Systems Staffing, Inc. (ISS), allegedly failed to collect and remit trust fund taxes amounting to approximately $2,008,046.63 from 2019 to 2024. These taxes include Social Security, Medicare, and federal income taxes that employers are required to withhold and pay to the IRS.
The indictment claims that Stafford exercised control over ISS’s financial decisions, including the management of ISS's bank accounts, which he reportedly used for personal expenses. It further alleges that he was involved in decisions concerning the hiring of third-party entities for the payment of employment taxes and obtaining funds for ISS expenses, including staff salaries.
Additionally, Stafford faces allegations of bankruptcy fraud linked to a Chapter 13 bankruptcy case he filed in 2023. In this case, he proposed a payment plan to creditors of $750 monthly over five years. Authorities claim he made false statements under penalty of perjury, misrepresenting his true income and failing to disclose control over various properties to minimize creditor payments.
Should Stafford be convicted, he could face up to 130 years in prison.
The investigation was conducted by the Internal Revenue Service Criminal Investigation team. Prosecutors including Assistant United States Attorney Francis A. Weber and Special Assistant United States Attorney Hannah J. McCollum are handling the case.
It is important to note that an indictment is merely an accusation, and the defendant is considered innocent until proven guilty.
