BOSTON – A former insurance salesman made off with more than $470,000 from three clients, using the funds for his personal benefit, including online gambling.
Paul Disidoro, 64, of Georgetown, Mass., was sentenced by U.S. District Judge William G. Young to 18 months in prison, three years of supervised release and restitution of $613,806.
Disidoro pleaded guilty to attempting to evade taxes in December 2015.
For many years, Disidoro operated an insurance business in Massachusetts, and from 2007 through 2010, he also acted as a financial adviser for some clients.
Disidoro concealed the income from his tax preparer, and failed to report the embezzled funds on his federal income tax returns.
In doing so, Disidoro evaded $144,000 in taxes.
The case was prosecuted by Assistant U.S. Attorney Sandra S. Bower of Ortiz’s Economic Crimes Unit.
United States Attorney Carmen M. Ortiz; Manny J. Muriel, Acting Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston; and Anthony DiPaolo, Chief of Investigations of the Insurance Fraud Bureau of Massachusetts, made the announcement today.
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Key Facts
- State: Massachusetts
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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