A Quincy man’s scheme to hide over $10 million in corporate income has finally caught up with him.
Su Nguyen, 60, of Quincy, pleaded guilty yesterday to filing false tax returns on behalf of his company, General Employment Services (GES), a temporary employment agency operating in Massachusetts.
Between 2016 and 2020, Nguyen was the owner and operator of GES. Clients paid GES by check for the work performed by GES employees. Nguyen deposited a small number of client checks in a bank account that Nguyen used for GES business and reported that income to the IRS. However, Nguyen cashed the majority of client checks at a check casher located in Worcester and used that cash on himself and to pay some employees’ wages.
Nguyen’s brazen scheme allowed him to cash over $10 million in client checks without reporting that income or the wages paid in cash to the IRS. By doing so, Nguyen and GES failed to pay over $2 million in taxes.
Nguyen’s plea deal includes a sentence of up to three years in prison, up to one year of supervised release and a fine of up to $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
Acting United States Attorney Joshua S. Levy; Harry T. Chavis, Jr., Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston; and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement. Assistant U.S. Attorney Christopher J. Markham of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.
Nguyen’s sentencing is scheduled for September 5, 2024. In October 2023, Nguyen was indicted by a federal grand jury.
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Key Facts
- State: Massachusetts
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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