The indictment accuses prosperity preacher William Todd Coontz of a check-cashing scheme. Coontz is charged with hiding income from the IRS “by claiming travel as a business expense while using reimbursements as personal income.” Joe Marusak of Charlotte Observer has the story:
A former Charlotte preacher who wrote the book “Please Don’t Repo My Car” was indicted on tax charges Thursday.
William Todd Coontz enjoyed a life of luxury, federal prosecutors contend, by claiming as business expenses the $1.5 million condo he and his family lived in as their parsonage and the luxury vehicles they drove, including three BMWs, two Ferraris, a Maserati and a Land Rover.
He also claimed a Regal 2500 boat, 400 charges at movie theaters, $228,000 in clothing purchases and $140,000 in meals and other entertainment as business expenses with no proof the expenses were for business, according to a federal criminal bill of indictment returned by a grand jury in Charlotte on Thursday.