Timothy J. Beverley (born 1956) is former

NASCAR The National Association for Stock Car Auto Racing, LLC (NASCAR) is an American auto racing sanctioning and operating company that is best known for stock car racing. It is considered to be one of the top ranked motorsports organizations in ...

team owner. Beverley was one of the founders of Tyler Jet, L.L.C., an aircraft sales and refurbishing company based in

Tyler, Texas Tyler, officially the City of Tyler, is a city in and the county seat of Smith County, Texas, United States. As of 2020, the population is 105,995. Tyler was the List of municipalities in Texas, 38th most populous city in Texas (as well as the m ...

. In 1998, he purchased

DarWal Inc. Darrell Waltrip Motorsports was a NASCAR team owned by three-time Winston Cup champion Darrell Waltrip. It was formed in 1991 NASCAR Winston Cup Series, 1991 when Waltrip resigned from Hendrick Motorsports to start his own team, and was originall ...

and ISM Racing and merged them together to form Tyler Jet Motorsports. He fielded cars for

Darrell Waltrip Darrell Lee Waltrip (born February 5, 1947) is an American motorsports Color analyst, analyst, author as well as a former national television broadcaster and stock car driver. He raced from 1972 to 2000 in the NASCAR Cup Series (known as the NAS ...

Rich Bickle Richard Allen Bickle Jr. (born May 13, 1961) is an American former professional stock car racing driver. Now retired from NASCAR racing, Bickle, who never completed a full season in the NASCAR Cup Series, had a long history in Short track motor r ...

, David Green and

Johnny Benson Jonathan Thomas Benson Jr. (born June 27, 1963) is an American retired stock car racing driver and the son of former Michigan modified racing, modified driver John Benson Sr. Benson has raced across NASCAR's three national series (Nextel Cup Seri ...

. In 2000, he sold the team to MB2 Motorsports. Beverley started Tyler Jet L.L.C. in 1986. Tyler Jet was a thriving business that bought, sold and repaired aircraft, operated an FBO and ran a business aircraft interior completions and refurbishment center. In February 2002 Tyler Jet creditors forced the company to file Chapter 7

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...

, which Beverley later amended in court to Chapter 11 bankruptcy. In 2004, Beverley, who was then Tyler Jet president and chief executive officer, was sentenced to six years in prison, and the company's Chief Financial Officer Gregory A. Hopper was sentenced to three and one-half years in prison for their part in a money laundering scheme that cost businesses and banks $18 million. They were each ordered to pay $18.2 million in restitution. While Beverley was on supervised release stemming from his federal conviction for

money laundering Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds i ...

, he worked as an airplane broker at Majestic Jet Inc., a company in

Pompano Beach Pompano Beach ( ) is a city in Broward County, Florida, United States. It is located along the coast of the Atlantic Ocean, just north of Fort Lauderdale and 36 miles north of Miami. The nearby Hillsboro Inlet forms part of the Atlantic Intracoa ...

Florida that provided aircraft charters. From 2010 through 2013, Beverley stole more than $1.5 million 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 A boat is a watercraft of a large range of types and sizes, but generally smaller than a ship, which is distinguished by its larger size or capacity, its shape, or its ability to carry boats. Small boats are typically used on inland waterways s ...

and rent. Beverley did not report this income on his 2010 through 2013 personal tax returns. On October 17, 2017 federal jury convicted Beverly of filing fraudulent tax returns, wire fraud and filing false monthly reports with the U.S. Probation Office. On Friday, March 16, 2018 Beverly was sentenced to 90 months in prison for filing fraudulent tax returns, wire fraud, and filing false monthly reports with the U.S. Probation Office

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NASCAR team owners 1955 births Living people {{NASCAR-bio-stub NASCAR controversies