A former Massachusetts direct mail printing executive, Reed A. Richard, has been sentenced to serve 30 months in prison for his role in fraud conspiracies and tax evasion, the Grimy Times has learned.
Richard, 35, of Carlisle, Mass., was sentenced in U.S. District Court in Boston by Judge Douglas P. Woodlock to serve 30 months in prison, to pay a $250,000 criminal fine and to pay $35,500 in restitution.
According to court documents, Richard was responsible for procuring direct mail printing services by obtaining competitive bids from printing companies, awarding contracts, reviewing invoices and authorizing payment. However, he approved invoices, issued by or through the printing brokers, while knowing that they were fraudulently inflated to include the kickbacks he was to receive.
The conspiracies took place from approximately January 2000 through approximately February 2006. Richard also pleaded guilty to one count of tax evasion for tax years 2004 and 2005 for falsely claiming substantial personal expenses as business expenses.
As a result of the conspiracies, Richard under-reported his corporate and personal taxable income, resulting in a total tax loss of approximately $170,000.
Richard’s sentencing is a result of an ongoing investigation into the direct mail printing industry being conducted by the Antitrust Division’s New York Field Office, with the assistance of the Internal Revenue Service (IRS)-Criminal Investigation, in Springfield, Mass.
Related Federal Cases
- Wayne Margarum, Sr., Tax Evasion, CT 2023 · New York
- Christopher Morris, Wire Fraud, Massachusetts 2024 · Washington
- New Canaan Man Pleads Guilty to Tax Evasion · New York
- Buffalo Woman Sentenced for Passport Scam, Tax Evasion · Delaware
- Takisha Rainey, Tax Refund Check Forgery, Carle Place NY, 2023 · Delaware
Key Facts
- State: Massachusetts
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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