El Dorado Hills Executive Arrested on State Income Tax Charges
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Public Affairs Office
For Immediate Release
Sacramento – An El Dorado Hills man was arrested Tuesday morning on four felony charges of state income tax evasion, according to the Franchise Tax Board (FTB).
Guy Archbold, 62, is a chief executive officer for a software development company. According to FTB agents, Archbold allegedly failed to file his 2007, 2008, 2011, and 2012 state income tax returns and failed to report more than $1.5 million in income earned during these tax years. Archbold owes the state more than $78,000 in unpaid tax. Penalties, interest, and the cost of the investigation will be added to this amount and sought as restitution.
Each felony tax count carries a maximum term of three years in state prison.
According to the arrest warrant, Archbold failed to respond to numerous FTB requests demanding he file and pay his delinquent tax liabilities. Every year, FTB contacts more than one million individuals who earned California income, but did not file a state income tax return. FTB compares its records of filed tax returns with more than 400 million income records it receives each year from third parties such as the Internal Revenue Service, banks, employers, state departments, and other sources. Most cases are resolved in FTB’s civil compliance programs.
Archbold was booked into the El Dorado County Sheriffs Jail in Placerville and is held on a $78,000 bail. His arraignment is scheduled for April 17 in Department 7 of the El Dorado County Superior Court.
The charges and allegations contained in the criminal complaint are merely allegations, and the defendant is presumed innocent unless and until proven guilty.
FTB’s criminal investigation program identifies and investigates cases of tax evasion and tax fraud to encourage compliance with California income tax laws and maintain the public trust.
For more information on other taxes and fees in California, visit taxes.ca.gov.