Former Chapel Hill Businessman Pleads Guilty

Date: 12/2/2003

RALEIGH – A former Orange County securities dealer pleaded guilty Tuesday in Wake County District Court to willfully failing to file his state individual income tax returns.

Mason C. Irwin, 46, of 932 Searidge Lane, Carolina Beach, entered guilty pleas to four counts of willfully failing to file his 1997, 1998, 1999 and 2000 North Carolina individual income tax returns.

District Court Judge Paul Gessner sentenced Irwin to two consecutive 45-day sentences. The sentences were suspended on the conditions that he be placed on supervised probation for 36 months, perform 100 hours of community service, pay a $1,000 fine and pay restitution of $7,790 to the North Carolina Department of Revenue. He was further ordered to file his delinquent 2001 and 2002 state tax returns within 60 days and timely file and pay all future taxes.

Evidence presented in court showed that Irwin had federal taxable income of $108,075 in 1997, $135,833 in 1998, $118,535 in 1999 and $204,740 in 2000. The offenses occurred while Irwin was president of Bonshaw Advisors, formerly located at 120 Providence Road, Chapel Hill.

The charges against Irwin resulted from an investigation by an auditor in the Department of Revenue's Durham Examinations Office and a special agent with the Department's Criminal Investigations Division.


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