Gabriel M. Ferrari, Tax Evasion, New Jersey 2024

NEWARK, NEW JERSEY – Gabriel M. Ferrari, owner of Buses and Trucks Inc. (B&T) in Linden, New Jersey, has been charged with tax evasion and filing false tax returns, according to a federal indictment returned in Newark, New Jersey, on an unspecified date.

The indictment alleges that from 2011 through 2014, Ferrari used B&T’s gross receipts to pay personal expenses, including gambling on horse races, and then did not disclose the diverted receipts to his return preparer or the IRS.

To hide his income, Ferrari allegedly filed false business and personal tax returns with the IRS.

According to the indictment, if convicted, Ferrari faces a maximum sentence of five years in prison for each count of tax evasion, and three years in prison for each false tax return charge.

Ferrari also faces a period of supervised release, restitution and monetary penalties.

A federal district court judge will determine a sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

The case is being investigated by the IRS-Criminal Investigation, and is being prosecuted by Trial Attorney Ann Marie Cherry of the Tax Division and Assistant U.S. Attorney Andrew Trombly of the U.S. Attorney’s Office for the District of New Jersey.

Defendant: Gabriel M. Ferrari

Criminal Charges: Tax evasion and filing false tax returns

City/State: Linden, New Jersey

Date: 1/1/2024 (unspecified date)

Sentence: Maximum 5 years in prison for each count of tax evasion, and 3 years in prison for each false tax return charge

Dollar Amounts: None specified

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