Former Springfield businessman denies money-laundering, tax charges and bank fraud

On June 26, 2008, a former Springfield businessman, Michael J. Armitage, denied money-laundering, tax charges and bank fraud in federal court.

He pleaded innocent to 7 criminal counts that were related with allegations, according to which he secured bank loans by means of concealing significant tax debt and USD 1 million by him embezzled from his own company. This scheme was uncovered by his partners in 1999.

A 55-year-old Armitage was released on a USD 500 000 unsecured bond, and travel restrictions were imposed.

According to the U.S. Attorney’s Office, Armitage could face up to 30 years in prison as well as a USD 1 million fine.

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