Former Tyler Jet Executive Convicted on Multiple Charges in Florida

POMPANO BEACH, Florida — A federal jury in Florida has convicted an ex-East Texas businessman of filing fraudulent tax returns, wire fraud, and filing false monthly reports with the U.S. Probation Office. Timothy J. Beverley, 61, the former president and CEO of Tyler Jet, worked as an airplane broker at Majestic Jet Inc., a Pompano Beach, Florida, company that provided aircraft charters. KETK reports Beverly also owned a NASCAR team. From 2010 through 2013, Beverley stole more than $1,500,000 from Majestic Jet by directing airplane escrow agents to wire funds from the sale of planes to nominee bank accounts that Beverley controlled. Beverley also stole funds directly from Majestic’s business bank accounts and used the money to pay for personal expenses including his boat and rent. Beverley did not report this income on his 2010 through 2013 personal tax returns.

While working at Majestic Jet, Beverley was on supervised release stemming from his federal conviction for money laundering in January 2004 for which he was sentenced to six years in prison. The then-CFO of Tyler Jet, Gregory Hopper, was also sentenced to a little over three years in prison. Beverley and Hopper were also ordered to pay more than $18,000,000 in restitution. As a condition of his supervised release, Beverley was required to file monthly reports with the U.S. Probation Office that listed his net earnings from employment. Between November 2009 through October 2012, Beverley did not disclose the money he stole from Majestic Jet on his filed reports. Sentencing is scheduled for January 5, 2018.