Fort Smith businessman pleads guilty to tax fraud


FORT SMITH, Ark. (KFTA) — A Fort Smith man pleads guilty to two counts of tax fraud.

Donald Tankersley, 76, pleaded guilty to two counts of tax fraud. 

According to court records, Tankersley is the owner of the White Dairy Ice Cream Company, Inc. (WDIC). 

WDIC also includes Tankersley Food Service, which supplies food to restaurants, schools, and government entities.  WDIC is a corporation located in the Western District of Arkansas.

IRS investigators discovered a fraudulent scheme in which Tankersley siphoned funds from WDIC by having checks created from WDIC accounts and made out to non-existent trucking companies.

Tankersley collected and deposited the checks into his personal bank accounts, or directed others to either deposit the checks into his personal bank accounts or cash the checks for his personal use. 

This reduced the corporate tax liability for WDIC and caused a tax loss for the 2013 WDIC corporate tax return.  Also in 2013, Donald Tankersley did not report the checks listed above as personal income, despite many of them being deposited into his personal bank accounts. 

This false omission from his personal tax returns also caused a tax loss.  According to court records, Tankersley has agreed to pay restitution to the IRS for a total tax loss of $188,198.

Tankersley’s sentence will be determined later by the court. Tankersley faces a maximum of three years in prison for each count.       

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