Arnold Martel, Tax Evasion, Massachusetts 2021

A Boston-area real estate developer has admitted to a multi-year tax evasion scheme, defrauding the government of more than $480,000.

Arnold Martel, 61, pleaded guilty to one count of tax evasion in federal court in Boston. The sentencing is scheduled for September 22, 2021.

Martel was charged on April 9, 2021, with defrauding the government by not reporting over $480,000 in income from upgrades to condominiums sold by his company.

For tax years 2014 through 2017, Martel personally received more than $1.2 million in payments from selling condominium upgrades. He deposited the payments into his personal accounts or cashed them, but did not report this income on his tax returns.

The charge of tax evasion provides for a sentence of up to five years in prison, up to three years of supervised release, and a fine of $250,000 or twice the gross gain or loss, whichever is greater.

Martel is also required to pay restitution to the IRS for his crimes. The sentences are imposed by a federal district court judge based on the U.S. Sentencing Guidelines and other statutory factors.

Acting U.S. Attorney Nathaniel R. Mendell and Ramsey E. Covington, Acting Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston, made the announcement. Assistant U.S. Attorneys Sara Miron Bloom and David Holcomb of Mendell’s Securities, Financial & Cyber Fraud Unit are prosecuting the case.

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