Brooklyn Businessman Admits Failing To Report Millions In Income
Newark, NJ - A Brooklyn businessman pleaded guilty to tax evasion and other charges, admitting he failed to report millions of income.
The scheme centered on businessman Abie Moskowitz, 56, from Brooklyn, N.Y. who owned Sea Jet Trucking/APA Warehouse Inc., a shipping and storage business, and he was the "driving wheel" behind a conspiracy in which 11 others have already pleaded guilty. In total, the participants failed to report $8.7 million of income on personal and business returns from 1998-2001.
Moskowitz pleaded guilty and he faces up to five years in prison and a $100,000 fine for tax evasion count; three years and $100,000 fine for each of count of aiding and assisting tax evasion; 20 years and a $500,000 fine, or up to twice the value of the funds involved, for money laundering; 30 years and a $1 million fine for bank fraud; and five years and a $250,000 fine for mail fraud. He remans free on $500,000 bond pending May 23 sentencing.
The scheme centered on businessman Abie Moskowitz, 56, from Brooklyn, N.Y. who owned Sea Jet Trucking/APA Warehouse Inc., a shipping and storage business, and he was the "driving wheel" behind a conspiracy in which 11 others have already pleaded guilty. In total, the participants failed to report $8.7 million of income on personal and business returns from 1998-2001.
Moskowitz pleaded guilty and he faces up to five years in prison and a $100,000 fine for tax evasion count; three years and $100,000 fine for each of count of aiding and assisting tax evasion; 20 years and a $500,000 fine, or up to twice the value of the funds involved, for money laundering; 30 years and a $1 million fine for bank fraud; and five years and a $250,000 fine for mail fraud. He remans free on $500,000 bond pending May 23 sentencing.
posted by VOS IZ NEIAS @ 2/22/2006 08:01:00 AM
3 Comments:
At 8:18 AM,
Anonymous said…
What he did was like this.
Moskowitz admitted that he induced other business owners to give him corporate checks, payable to fictitious vendors. Moskowitz cashed the checks, kept a small percentage as his fee, and returned the money to the others.
As a result, both Moskowitz and the other business owners got cash they did not declare as income, and the owners claimed the amounts of the checks as business deductions.
Moskowitz pleaded guilty to one count of tax evasion, two counts of aiding and assisting tax evasion, and one count each of bank fraud, mail fraud and conspiracy to commit money laundering.
At 1:54 AM,
chulent in kigel said…
farvoos darfst dee dos zoogen faren gantzen oilem? Zoog meer voos di host oif giteen az di host gezoogt dan p'shtel in gezoogt looshen horah faren gantzen velt
At 12:10 PM,
Anonymous said…
I read on your blog yesterday about a businessman from Brooklyn who pleaded guilty to tax evasion. Was this in any newspaper or did you just hear about it from someone?
My concern is for someone I know who could be affected by it- I dont know if I should let him know or not.
Any update would be appreciated.
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