Ex-NJ Business Owner From Brooklyn Admits Ducking Taxes On $4.1M Company Buyout Ex-NJ Business Owner From Brooklyn Admits Ducking Taxes On $4.1M Company Buyout
Ex-NJ Business Owner From Brooklyn Admits Ducking Taxes On $4.1M Company Buyout UPDATE: A former New Jersey business owner admitted short-changing the IRS by $1.1 million after selling his stock to the company. David Seruya, 42, of Brooklyn sold his shares to the Edison-based home-warranty company for more than $4.1 million in a 2014 buyout, federal authorities said. The deal included a lump sum payment and installment payments spread out over 24 months, according to the U.S. Justice Department. On three straight tax returns, from 2014 through 2016, Seruya gave his return preparer “false and incomplete income information,” underreporting the income he received from th…
70-Something Brothers Who Owned Popular Jersey Shore Pizzeria Face Sentencing For Lying To IRS 70-Something Brothers Who Owned Popular Jersey Shore Pizzeria Face Sentencing For Lying To IRS
70-Something Brothers Who Owned Popular Jersey Shore Pizzeria Face Sentencing For Lying To IRS UPDATE: The saga of two brothers in their 70s who got caught paying the employees of their popular Jersey Shore pizzeria under the proverbial table is nearing its end. The once-proud co-owners of Mario's Pizzeria in Ocean City, Giuseppe "Joe" Cannuscio, 74, and Ernesto Cannuscio, 70, are scheduled to be sentenced for tax evasion this fall. Both men took deals from the government rather than risk trial, pleading guilty in federal court in Camden to conspiring to evade taxes within a couple weeks of one another. Employees at Mario's, which was founded in 1977, were paid off the books over th…
Ex-Hudson Valley Bagel Shop Owner Sentenced For $2M Scam Ex-Hudson Valley Bagel Shop Owner Sentenced For $2M Scam
Ex-Hudson Valley Bagel Shop Owner Sentenced For $2M Scam A former Hudson Valley resident is heading to federal prison for defrauding prospective franchisees of his bagel company. Joseph Smith, age 57, formerly of Fishkill in Dutchess County, was sentenced to three and a half years behind bars after pleading guilty in February 2022 to charges of conspiracy to commit wire fraud and tax evasion. Federal prosecutors said between 2014 and 2016, Smith sold more than 160 franchises of his company, New York Bagel Enterprises Inc., to individuals in Pennsylvania and other states. The problem, prosecutors said, was that Smith misled operators by guarantee…
CPA From Passaic County Admits Scheme To Hide $150,000 From IRS CPA From Passaic County Admits Scheme To Hide $150,000 From IRS
CPA From Passaic County Admits Scheme To Hide $150,000 From IRS A CPA from Passaic County admitted trying to hide $150,000 from the taxman with a little help from a friend. His unidentified pal compensated William Kawam, 57, of Hewitt, for his accounting services by giving him a credit card belonging to one of the friend’s businesses, U.S. Attorney Philip R. Sellinger said. Kawam racked up $146,605 in charges from 2015 through 2017 that neither he nor his friend reported, Sellinger said. The scheme shortchanged the Internal Revenue Service by $54,400, he said. Kawam, a former partner at SKC & Co. LLC in Boonton, took a deal from the government rat…
GUILTY: Sussex County Diner Owner Failed To Pay Thousands In Taxes, IRS Says GUILTY: Sussex County Diner Owner Failed To Pay Thousands In Taxes, IRS Says
Guilty: Sussex County Diner Owner Failed To Pay Thousands In Taxes, IRS Says The owner of a Sussex County diner admitted in court to evading taxes, authorities announced. Newton resident Dimitrios Protogeropoulos, 60, pleaded guilty via video conference to one count of personal income tax evasion for the 2016 tax year, according to a release from the IRS. Protogeropoulos, who owns The Hampton Diner in Newton, admitted to “skimming” a large portion of the restaurant’s cash receipts for personal use, authorities said. He also paid certain restaurant workers using cash in order to avoid paying personal income taxes. Protogeropoulos admitted that he neglected to repor…
Greater Boston Area Contractor Sentenced For $1.8M Payroll Tax Scheme Greater Boston Area Contractor Sentenced For $1.8M Payroll Tax Scheme
Greater Boston Area Contractor Sentenced For $1.8M Payroll Tax Scheme An Ipswich man who ran several Massachusetts businesses was sentenced to a one-year house arrest for manipulating his payroll to avoid paying over $1.8 million in taxes, the US Attorney's Office for Massachusetts reports.  George Vasiliades, age 58, increased his business profits by lying about the size of his companies to the Internal Revenue Service (IRS) from 2008 to 2013, the office reports.  Some of his businesses included Alpine Property Services, Boston Central Management, Delta Labor Company, Olympic Painting & Roofing and Turnpike General Contracting, the office repor…
Company Owner In Massachusetts Sentenced For Tax, Fraud Schemes Company Owner In Massachusetts Sentenced For Tax, Fraud Schemes
Company Owner In Massachusetts Sentenced For Tax, Fraud Schemes The owner of a Massachusetts plumbing company will spend more than a year behind bars for overbilling customers for work he never performed and engaging in a near $1.5 million tax evasion scheme, federal authorities announced. Prosecutors said that plumbing contractor Jared “Jay" Derrico, age 35, of the town of Boxford in Essex County, was sentenced to one year and one day in prison, followed by three years of supervised release after he pleaded guilty to one count of tax evasion and two counts of mail fraud in February. In addition to his prison time, Derrico was ordered to forfeit $315,00…
Bean Counter Who Embezzled Hundreds Of Thousands From Bergen Tour Company Sentenced Bean Counter Who Embezzled Hundreds Of Thousands From Bergen Tour Company Sentenced
Bean Counter Who Embezzled Hundreds Of Thousands From Bergen Tour Company Sentenced An accountant from Lyndhurst was sentenced to a plea-bargained 21 months in federal prison for her role in embezzling hundreds of thousands of dollars from a guided tour company she worked for. Ruby Baroni, 55, took a deal from the government rather than face trial – the same as her former manager, Estela Laluf, 76, of River Edge. Laluf was sentenced in April to an agreed-upon 27 months in federal prison. U.S. District Judge Julien Xavier Neals sentenced Baroni on Thursday to two years of supervised release and ordered her to pay $295,297 in restitution. Between 2010 and 2016, she and Lal…
Ex-Bethlehem Finance Director Resold Phones Bought With City Funds To Get Richer: DA Ex-Bethlehem Finance Director Resold Phones Bought With City Funds To Get Richer: DA
Ex-Bethlehem Finance Director Resold Phones Bought With City Funds To Get Richer: DA A former Bethlehem finance director was charged on Thursday, June 2, with misusing city funds to buy thousands of dollars worth of electronics, reselling them, and pocketing the proceeds, authorities said. Mark Sivak, 44, used the city’s Verizon account to buy and resell at least 31 cellphones between November 2019 and April 2022 for a total of $12,630, Northampton County District Attorney Terry Houck said alongside the City of Bethlehem Police Department. He also apparently admitted to ordering additional items from the city's Verizon account over the past six months and bri…
CFO Of CT-Based Company Admits To Embezzling $433K CFO Of CT-Based Company Admits To Embezzling $433K
CFO Of Ct-based Company Admits To Embezzling $433K A former Chief Financial Officer in Connecticut admitted to embezzling nearly $500,000 from his company through a scheme to steal funds from his employer, federal authorities announced. Hartford County resident David McManus, age 56, of Granby, pleaded guilty in Bridgeport federal court to fraud and tax offenses stemming from his embezzlement of funds from his former company. US Attorney Vanessa Roberts Avery said that McManus was the CFO for a Hartford-based company for nearly 14 years.  Between 2012 and 2018, McManus admitted to embezzling approximately $433,584 from the company by…
CT Business Owner Admits Failing To Pay Taxes CT Business Owner Admits Failing To Pay Taxes
CT Business Owner Admits Failing To Pay Taxes A Connecticut business owner admits that he failed to pay nearly $900,000 in taxes and used company funds for personal expenses. New Haven County resident Christopher Jardine, age 55, of Guilford, appeared in federal court in Bridgeport Friday, April 29, where he pleaded guilty to one count of willful failure to pay over withholding taxes, according to the US Attorney’s Office. Federal prosecutors said between 2016 and 2019, Jardine failed to collect and pay over the federal income and Federal Insurance Contribution Act (FICA) taxes that were withheld from employees’ paychecks at his Branfo…
CT Man Found Guilty Of Failing To Pay Taxes On $950K In Income CT Man Found Guilty Of Failing To Pay Taxes On $950K In Income
CT Man Found Guilty Of Failing To Pay Taxes On $950K In Income A Connecticut attorney was convicted of failing to pay taxes on about $950,000 in income. Deron Freeman, a resident of Glastonbury in Hartford County, was found guilty on Monday, April 18, of three counts of making and subscribing a false tax return and four counts of failure to pay income tax, according to Leonard Boyle, United States attorney for the District of Connecticut. Freeman, age 47, owned a law office in Hartford, where he primarily practiced in the areas of personal injury and criminal law, Boyle said.  The US Attorney's Office said Freeman fell "severely behind" in p…