A senior sales executive at a Gloucester seafood processing company was sentenced in a federal court for tax fraud. (Photo: Stock File)
Seafood executive sentenced for tax fraud
Saturday, July 15, 2017, 02:20 (GMT + 9)
A senior sales executive at a seafood processing company in Gloucester was sentenced in federal court in Boston for tax fraud.
According to the US Department of Justice, Richard J. Pandolfo, of North Andover, was sentenced by U.S. District Court to one year of probation with six months to be served in home confinement, a fine of USD 5,000, and restitution of USD 25,879.
In April 2017, Pandolfo pleaded guilty to one count of making and subscribing a false tax return.
Court documents revealed that from 2008 to 2012 Pandolfo received substantial supplemental income for his work at a seafood processing company in Gloucester from the company’s president.
Some of those payments were made directly to Pandolfo or to his wife, but Pandolfo did not report or pay taxes on any of those payments.
Other payments were made by a corporate entity controlled by the seafood processor’s president to a purported interior design company set up in the name of Pandolfo’s wife.
The executive reported that income but improperly deducted personal expenses from it as business expenses, thereby improperly reducing the taxes he owed.
In total, Pandolfo failed to pay USD 25,879 in taxes, which he agreed to pay in restitution to the Internal Revenue Service as part of his plea agreement.