Kansas businesswoman indicted in $7 million tax case
From Westport News
KANSAS CITY, Mo. (AP) — A federal grand jury has indicted the former CEO of the National Association of Independent Truckers in an alleged scheme to hide millions of dollars from the federal government.
The Kansas City reports the grand jury indicted businesswoman V. Cheryl Womack Thursday for allegedly trying to interfere with the administration of federal tax laws and lying to federal investigators.
The 62-year-old Womack, of Mission Hills, Kan., is accused of not reporting millions of dollars in Cayman Island businesses, trusts and financial accounts. Investigators estimated the tax loss at more than $7 million. She is also accused of lying to FBI agents and a U.S. Justice Department attorney about her Cayman Islands interests.
Womack’s attorney, Nathan F. Garrett, declined to comment, saying he hadn’t seen the charges.
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From Leading Women
V. Cheryl Womack
2002 Honoree
The Star Group
United States
President & CEO, The Star Group
Chair, The Leading Women Entrepreneurs of the World, Inc. – 501(c)3
President & CEO, VCW Holding Company, L.L.C.
President & CEO, VCW Accounting Services, L.L.C.
CEO, R&A Properties, L.L.C.
Member, W & P Development, L.L.C.
CEO, Just Jets, Inc.
Other business Interests: Biologix; Countryside Bistro, et. al.; Digital Evolution Group; GHS Manufacturing; Design Exchange; Galaxy Beef; Gordie’s Heirlooms; Ribomed
PERSONAL PROFILE
V. Cheryl Womack was born on December 31, 1950, the third eldest of 11 children of a struggling Hispanic immigrant family in Kansas City, Kansas, USA.
Her late father, who consistently worked 18-hour days in a fibreglass factory, was – and continues to be – her inspiration. He instilled not only a strong work ethic, but perhaps more importantly, an attitude.
Cheryl was raised to take responsibility, believe in herself, and know change is not only possible, but in fact a choice that is available to everyone. At age 33, when Cheryl was earning just $17,000 a year, she took that option and made the choice to change both her life and her lifestyle.
Two decades later, she was honored with the “A Reason to Believe” Award from her childhood school. Among the numerous accolades she has received, this one perhaps best embraces the success – both professional and personal – of V. Cheryl Womack.
She is now one of America’s most successful entrepreneurs, innovators and business leaders. As such, she’s a highly respected role model and, through her motivational talks and mentoring programs, an inspiration to thousands of people around the world, particularly women.
As in every endeavor she tackles, Cheryl empowers by example. She herself is “A Reason to Believe” anything is possible and one of her greatest talents is instilling this belief in others.
Providing opportunities for employees’ success and watching them seize the moment and excel beyond their expectations has been a source of great personal fulfillment. As a woman business owner, significant satisfaction has come from the respect and recognition achieved within two male-dominated industries: trucking and insurance.
Cheryl’s personal life is as balanced and multi-faceted as her career. Her passions include community work, art, interior design, wine – and, most importantly, her family. Cheryl is married and the proud mother of two teenage sons.
PRESENT
Cheryl currently manages multiple business interests, as listed above. They include directing the efforts of VCW Holding Company, L.L.C., an entity she founded to partner with and provide consulting and administrative services for a variety of start-up and mid-sized growth companies.
She also leads The Star Group team in program and partnership development for annual events recognizing and honoring The Leading Women Entrepreneurs of the World™ and participates in mentoring programs sponsored by The Kauffman Foundation for Entrepreneurial Leadership, The Committee of 200, Harvard University John F. Kennedy School of Government, and the Women’s Leadership Board.
BEGINNINGS
In 1983, at age 33, V. Cheryl Womack founded her first company in the basement of her home — VCW Inc., an insurance agency designed to meet the needs of a niche trucking industry segment, independent contractor truck drivers. Later the same year, she founded Preferred Administrative Services, Inc., a third party claims administrator. Both companies were established to serve the members of the National Association of Independent Truckers, Inc. (NAIT), a group Cheryl had established in 1981. When Cheryl sold her companies in 2002, she had grown her Kansas City-based operation to a $100 million business, employing more than 80 people and insuring more than 12,000 NAIT members throughout the United States and Canada.
COMPANY CULTURE
As her companies grew, so too did Cheryl’s reputation for innovative product development, an inventive corporate culture and powerful industry leadership.
She pioneered a string of ground-breaking insurance products, including an alternative to workers’ compensation for independent contractors that has become a model for the industry.
Often imitated, but never equaled, her program is noted for its new product development and successful risk management. As a result, she enjoys the well-deserved reputation as an industry leader.
A corporate culture that fosters innovation and creativity and rewards diligence and dedication, and programs that support working families and encourage community involvement, are keys to her success.
VCW, Inc. was named one of the 100 Best Companies for Working Mothers by Working Mother magazine for several years running.
In 1989, Cheryl was again at the forefront of small business innovation when she established an on-site child care facility for the preschool aged children of her 23 employees.
Her companies then adopted an inner-city day care facility as their special charity and have supported the center with volunteer time and monetary contributions ever since.
MILESTONES
2003
Purchased the assets of The Star Group/The Leading Women Entrepreneurs of the World™
2002
Completed the sale of VCW, Inc., NAIT, Inc. and PAS, Inc., the companies that make up The NAIT Program, to Clayton, Dubelier & Rice. Honored as one of the Leading Women Entrepreneurs of the World™ ; Founding Member, Women Impacting Public Policy, Inc., a national bi-partisan public policy organization, advocating on behalf of women in business and strengthening their sphere of influence in the legislative process of our nation, creating economic opportunities, and building bridges and alliances to other small business organizations.
2001
Founding Member of GrassRoots Impact, Inc., an organization that connects corporate America and political leaders to small business owners, including women-owned businesses, minorities and women in business. Chair of Entrepreneur’s Exchange “E Day” event in Kansas City, the purpose of which is to foster entrepreneurship in Kansas City by offering seminars and workshops put on by successful local entrepreneurs. Sponsored A Celebration of Women’s Golf, an event that will bring Ladies Professional Golf Association (LPGA) members to Kansas City to play golf and raise awareness and funds for The Women’s Life Center Inc.; Celebrated the Grand Opening of The Women’s Life Center’s new facility and first event.
2000
With two female physician partners, founded The Women’s Life Center, a new concept that provides a supportive environment, which inspires women to enhance their total well being and helps them to find more balance in their lives. Also founded The Women’s Life Center Inc., a not-for-profit company established to fund independent research programs to identify the most pressing sociological issues facing women today, look for the cause and work toward a cure.
1999
Invited to address MBA students at the University of Kansas as part of their “Entrepreneurship Immersion Week” wherein successful and prominent entrepreneurs share their experiences with first year students. Invited several of these students to become summer interns, invested in one student’s start-up company and continues to contract for services with this company.
1990 – 1998
Named to the Business Women’s Network Honorary Committee, for exemplifying the best in business women in America.
Designed and implemented an employee bonus system based on net company growth – the employee group was eligible to receive 100% of net growth, paid out quarterly, once set goals were achieved – company growth the first year of the bonus program was 17%.
Named one of Working Woman magazine’s Top 500 Women-Owned Businesses in the nation (3 years running).
Founding Member, Executive Board Member and Chair of Entrepreneur’s Exchange, a group whose mission is to energize and foster the growth of entrepreneurship in the community and to support young entrepreneurs by helping them recognize and develop leadership attributes, including vision, optimism and character.
Appointed by President Clinton to serve a 3-year term on the National Women’s Business Council, an independent 10-member panel which serves in an advisory capacity to the President, the Congress and other Federal entities on issues applicable to women business owners.
Honored to replace Ewing M. Kauffman as the Chief Executive Officer chosen to address interns in the CORO/Kansas City program. CORO/Kansas City works to retain the area’s best and brightest by awarding internships to a select group of exceptional college students and affording them the opportunity to experience the entire spectrum of career possibilities from government to the private sector. The CEO address and open forum concludes the student’s six-week internship in the program.
1990
Founded Truckers Helping Truckers, a 501(c)3 organization dedicated to providing assistance to those in the trucking industry who encounter financial difficulties.
1983
Founded VCW, Inc., a specialty insurance agency, and Preferred Administrative Services, Inc., a third-party claims administrator, to serve the needs of a unique industry segment, independent truck owner/operators.
1981
Founded the National Association of Independent Truckers, Inc. (NAIT).
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