Former Idaho businessman sentenced for wire fraud

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by Associated Press

NWCN.com

Posted on January 10, 2013 at 2:12 PM

BOISE -- The owner of a former Idaho company has been sentenced to 51 months in federal prison for wire fraud and filing a false tax return.

Federal prosecutors say 46-year-old Michael Wayne Davis was sentenced Wednesday. Davis was also ordered to pay nearly $1 million in restitution and serve three years of supervised release after prison.

Davis once lived in Eagle and is the former owner of Xpress Flex Inc. and Payroll America Inc. He was accused of misappropriating funds in 2009 and 2010 that were to be held by Xpress Flex to pay off personal credit cards and business expenses for Payroll America.

Prosecutors said he used the funds this way without the knowledge or permission from his clients.

He pleaded guilty to the charges in September.

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