Former Corona mayor pleads guilty to lying to the FBI during bank fraud probe
A former Corona mayor and developer of the Nature’s Recipe dog food brand pleaded guilty Thursday to lying to FBI agents during a bank fraud investigation into his dog food company, according to the U.S. attorney’s office.
Jeffrey Bennett, 57, pleaded guilty to one count of making false statements and could face a maximum sentence of five years in federal prison.
Federal authorities were investigating Bennett’s company, Earth Elements Inc., which developed the Nature’s Recipe brand. Investigators were trying to determine if Bennett had committed bank fraud or bankruptcy fraud related to his company’s $9-million line of credit with City National Bank.
In 2009, Bennett told FBI agents that his company had been inactive since the dog food brand was sold to the H.J. Heinz Co. in 1996 and had been filing “zero dollar” tax returns. But in court Thursday, Bennett admitted that his company received millions of dollars in 2002 and 2003 from lawsuit settlements from legal actions filed before the sale, and that he had not filed tax returns since 2001, according to a statement released by the U.S. attorney’s office in Los Angeles.
As part of his plea agreement, Bennett has promised to pay all back taxes owed.
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-- Phil Willon in Riverside
EDITOR'S PICKS:
Another good reason to get rid of the politicians .they are the biggest crooks.
Posted by: corruptgov | March 17, 2011 at 07:26 PM
It's about time he got caught for real. He almost bought the farm when he got caught lying about his legal "residence" a few years back to run for another seat.
Good riddance.
Posted by: Joe from Corona | March 17, 2011 at 08:11 PM
It's very difficult, from reading this article, to determine precisely what happened here. Was the FBI investigating a bank or the dog food company? Is it bank fraud or tax fraud?
Posted by: Tsiu Marpo | March 18, 2011 at 05:20 AM
Oh, gee wiz. Does he HAVE to pay back all the taxes he cheated us out of? Must he go to jail for being a lying, cheating, thieving scumbag? How unusual for a white collar criminal to be punished. What's wrong with this country? By punishing this man and others like him we'd be sending a message that White Collar Crime doesn't pay - or does it? Not only should he have to repay and do 5 years in prison (every day of 5 years) he should forfeit everything he has.
Posted by: Nate Philips | March 18, 2011 at 06:03 AM
Well is anyone surprised he's just another one that got caught. Will he do any prison or jail time ? NO ! Sad part is that we the Tax Payers won't do a damn thing about it. Won't surprise me if he and Nolan don't end up suing the City of Corona, cause it's the thing to do. Corona pay's off like a slot machine to all thier misfits and not one goes to jail. Just look at the Corona Police Dept.'s record. It makes me embarrassed to be from Corona when things like this happen and they get rewarded instead of jail.
Posted by: CORONA CONCERNED CITIZEN | March 18, 2011 at 07:14 PM
What, him go to jail? He'll skate just like he did the last time he was indicted for embezzlement. At least there is some justice for all those whose careers he ruined when he was on city council. Heaven knows how many others he's destroyed to get what he wants. And I'm sure his accountant is thrilled to know it's their fault for not filing and not Bennet's. Never has taken an ounce of personal responsibility for his actions.
Posted by: Former Employee | March 30, 2011 at 03:03 PM