Emanuel Panousos, Tax Evasion, Massachusetts 2019
BOSTON, Massachusetts – Emanuel Panousos, a/k/a Mike Panousos, 44, of Peabody, has been sentenced to 21 months in prison for committing tax fraud by failing to report approximately $1.9 million in business receipts.
Panousos, the owner of Mike's Famous Roast Beef & Pizza in North Reading, was sentenced by U.S. Senior District Court Judge Douglas P. Woodlock to one year of supervised release, and ordered to pay a fine of $7,500 and restitution of $387,180.
From 2013 through 2015, Panousos skimmed business cash receipts totaling about $1.9 million, and failed to report those cash receipts to his tax preparer or on the restaurant's corporate tax returns.
As a result, Panousos avoided paying both corporate and personal taxes totaling approximately $387,180 during those years.
United States Attorney Andrew E. Lelling and Kristina O'Connell, Special Agent in Charge of the Internal Revenue Service's Criminal Investigations in Boston made the announcement. Assistant U.S. Attorney Mark J. Balthazard of Lelling's Securities and Financial Fraud Unit prosecuted the case.
The crime was committed between 2013 through 2015. Emanuel Panousos pleaded guilty to two counts of aiding and assisting in filing false corporate tax returns.
The defendant's real full name is Emanuel Panousos, and the exact criminal charges are two counts of aiding and assisting in filing false corporate tax returns.
Key Facts
- State: Massachusetts
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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