CLEVELAND (AP) — A northeastern Ohio businessman has been charged in federal court with bankrolling a luxurious lifestyle by failing to pay more than $600,000 in federal income taxes over a four-year period.
Forty-seven-year-old Thomas Klocker, of Lakewood, was charged in an information Monday with four counts of tax evasion. An information typically indicates a defendant has agreed to plead guilty.
Federal authorities say Klocker diverted money from his metals business in Westlake to pay for an expensive waterfront home, world travel and to maintain his 68-foot yacht called “Tommy Time.” Authorities allege Klocker took improper business write-offs and failed to report $2 million in income from 2007 through 2010.
The information alleges Klocker claimed losses for expenses associated with Tommy Time personal use.
Court records don’t indicate if Klocker has an attorney.