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Co-founder of Morgan-McClure Motorsports to plead guilty to tax fraud

January 7th, 2009 12:00 am by Staff Report

The Bristol Herald-Courier is reporting that the co-founder of Abingdon-based Morgan-McClure Motorsports Larry McClure will plead guilty to tax fraud in a plea deal that dismisses charges regarding a painting invoice, his attorney Robert Wayne Austin confirmed Tuesday.

The plea deal, signed by McClure on Monday and filed Tuesday with the U.S. District Court in Abingdon, Va., states McClure will plead guilty to five counts, including making false statements to Internal Revenue Service investigators and filing false tax returns in 2002, 2003 and 2004, Austin confirmed.

As part the agreement filed Tuesday, McClure will have to refile his tax returns for those years.

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