Corporate Hall of Shame 2-12-07

The CFO of Douglas Development has pleaded guilty to a single count of tax evasion, according to the U.S. attorney’s office for D.C.John Brownell, 45, of Rockville, pleaded guilty Feb. 8 in U.S. District Court for the District of Columbia and could face five years in prison. He is to be sentenced June 7, according to the U.S. attorney’s office.

Brownell is the third high-level official of D.C.-based Douglas Development who has been found guilty of felony charges. (…)

Between 1996 and 2004 Douglas Development made payments totaling more than $270,000 to a credit line account of Brownell at Potomac Valley Bank, where the funds were then used by him for personal purposes, according to the prosecutor. Those payments were disguised in the books of Douglas Development to appear as routine financial obligations of the company to the bank, the government says. (Washington Business Journal)