Richard Josephberg, Tax Evasion and Failure to File Tax Returns, New York 2023
Richard Josephberg, a financial broker, has been charged in Manhattan federal court with five counts of tax evasion and four counts of willful failure to file tax returns.
According to the indictment, Josephberg allegedly defrauded the IRS and evaded taxes by disguising more than $1.5 million in income as long-term capital gain. He also allegedly failed to file tax returns for four years.
U.S. Attorney Geoffrey S. Berman said, “Richard Josephberg allegedly defrauded the IRS and evaded taxes by disguising more than $1.5 million in income as long-term capital gain. He also allegedly failed to file tax returns for four years. Working with IRS Criminal, we are determined to ensure that everyone meets his tax obligations.”
IRS-CI Special Agent in Charge James D. Robnett said, “The IRS enforces the nation’s tax laws and Special Agents are experts at following the money through multiple entities and complex structures. People who create elaborate schemes designed to mislead the IRS run the very high risk of arrest and criminal prosecution.”
Josephberg allegedly began working for an investor relations firm in Manhattan in late 2010 and secured a commission-based arrangement with another investment firm. He was entitled to commission payments totaling approximately $1.57 million in 2011, but directed the remaining payments to be made in the name of a nominee corporate entity called Almorli Advisors Inc.
Josephberg opened a new bank account in the name of Almorli Advisors Inc. and deposited payments totaling approximately $1.53 million into that account. He then formed a second entity called Almorli Advisors NY LLC and caused his accountant to prepare a false 2011 partnership income tax return, listing him as a 99 percent partner and his son as a one percent partner.
The indictment alleges that Josephberg’s scheme to evade taxes resulted in a reported tax liability that was hundreds of thousands of dollars lower than the true tax liability. He is facing up to 5 years in prison and $250,000 in fines if convicted.
Josephberg was arrested earlier this morning and is expected to be presented and arraigned later this afternoon in Manhattan federal court before United States District Judge Richard J. Sullivan.
Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →