Bowlin's CPA certificate revoked by state board

MONTGOMERY - A state regulatory agency has revoked the certified public accounting certificate of Florence CPA Donald Bowlin for pleading guilty to a federal bank fraud conspiracy charge.

The Alabama State Board of Public Accountancy also fined Bowlin $500 and has effectively removed his ability to practice public accountancy.

The move was effective Sept. 19.

Bowlin pleaded guilty May 8 to one count of bank fraud conspiracy. He had been convicted of seven felony counts in a trial in 2006.

Bowlin was granted a new trial after his attorneys said he may have been granted immunity from prosecution during an interview with an assistant U.S. attorney and an FBI agent but the government didn't tell his attorneys.

Bowlin said in an interview that he pleaded guilty to one count because the first trial already cost him several hundred thousand dollars and that the government threatened to indict his wife. He got five years' probation.

"This lasted five years and it drug out, and I had spent $200,000 and it came down to dismissing all charges if I'd plead guilty to conspiracy," Bowlin said.

Bowlin's attorneys cited numerous errors in his first trial and requested a new trial and acquittal of his conviction.

Bowlin said he had purchased invoices from the business in an investment practice called factoring. He said he was unaware the business didn't have the money to back up the deposits that equaled hundreds of thousands of dollars. Federal court records do not show a prosecution for the co-defendant.

Bowlin repaid Bank Independent $125,198 and owes $214,951, records show.

Bowlin and Rosena Phillips were charged with depositing checks from her business into three banks when there was not enough money to cover the checks.

She pleaded guilty to one count of bank fraud conspiracy and is repaying a Tennessee bank about $3,000 a month, records show. She got five years' probation.

Phillips blamed Bowlin.

"He was our accountant, and he asked me to do it," Phillips said. "I went to the FBI myself, me and (my lawyer). I went to the FBI and they said because I did what he asked me to do, it was the same as doing it.

"It's been a nightmare; I'm just not that type of person," Phillips said. "I was afraid to tell. I didn't know how to get out of it. It just snowballed. I didn't get any money out of it. It cost us almost $300,000."

Dana Beyerle can be reached at (334) 264-6605 or dtb12345@aol.com.