Georgia man uses Goodyear name to defraud investors

Nov. 26, 2002

An Atlanta, Ga., man who tricked investors into loaning him money for "the purchase of Goodyear Tire & Rubber Co.'s truck tire alignment division" has been fined and sentenced to one year in jail.

Michael Edward Eakin, 57, was sentenced yesterday for filing a false tax return in 1994.

At the sentencing, Judge Julie E. Carnes "held that the defendant derived income from criminal activity and that he did not report the criminally derived income to the Internal Revenue Service (IRS)," said IRS officials in an official statement.

Easkin pocketed money earmarked for the fictitious Goodyear "purchase" and now owes the IRS nearly $120,000, which he has been ordered to pay in restitution.