Boston, Massachusetts, is reeling from the latest in a string of high-profile tax evasion cases, with the guilty plea of former New Bedford seafood wholesaler George F. Estudante.
Estudante, 57, formerly of Marion, Massachusetts, pleaded guilty to two counts of failing to file tax returns and one count of filing a false income tax return. U.S. District Court Judge William G. Young scheduled sentencing for March 13, 2018.
The investigation revealed that Estudante’s business, Basic Fisheries, received approximately $1,418,629 in payments in 2010, but he failed to file an income tax return. In 2011, his business received approximately $1,607,726 in payments, but he again failed to file a tax return. Furthermore, Estudante falsely swore on his 2012 tax return that he had received approximately $533,078 in gross receipts when his bank account reflected that he had received over $740,000.
The charge of failing to file an income tax return provides for a sentence of no greater than one year in prison, one year of supervised release and a fine of $25,000. The charge of filing a false income tax return provides for a sentence of no greater than three years in prison, one year of supervised release and a fine of $100,000. Sentences are imposed by a federal district court judge based on the U.S. Sentencing Guidelines and other statutory factors.
Acting United States Attorney William D. Weinreb and Joel P. Garland, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigations in Boston, made the announcement. Assistant U.S. Attorney Stephen P. Heymann of Weinreb’s Economic Crimes Unit is prosecuting the case.
The guilty plea is the latest in a string of high-profile tax evasion cases in the state. As the investigation continues, authorities are urging citizens to come forward with any information regarding tax evasion or other financial crimes.
Estudante’s sentencing is scheduled for March 13, 2018. The case serves as a reminder of the importance of complying with tax laws and regulations.
Key Facts
- State: Massachusetts
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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