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Rocco Manzione, a prominent Queens business owner, pleads guilty to tax evasion and employment tax fraud.
According to court documents, Rocco Manzione, 45, of Queens, New York, owned and operated a series of concrete companies, including Advanced Transit Mix Corp. Manzione withheld federal employment taxes from his employees’ wages but failed to timely file his companies’ employment tax returns and pay the required taxes to the IRS.
For the third quarter of 2016 alone, Manzione failed to pay more than $85,000 in payroll taxes that he withheld from wages of employees of Advanced Transit Mix Corp.
In addition to his payroll tax fraud, Manzione evaded his individual income taxes. For tax years 2015 through 2017, Manzione did not file federal income tax returns, even though he earned almost $2,000,000 in income during that period.
Manzione also concealed income from the IRS by transferring funds from his concrete companies to a bank account in the name of a nominee corporation called RA Equities LLC. He used some of the funds deposited into the nominee account for personal expenses, and did not report that income to the IRS.
The tax loss to the IRS caused by Manzione’s actions is estimated to be over $1.5 million.
Manzione is scheduled to be sentenced at a later date and faces a maximum penalty of five years in prison for each count of tax evasion and employment tax fraud. The defendant also faces a period of supervised release, restitution, and monetary penalties.
Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Tax Division and Acting U.S. Attorney Jacquelyn M. Kasulis of the Eastern District of New York made the announcement.
The IRS-Criminal Investigation is investigating the case. Trial Attorneys Brittney Campbell and Kathryn Carpenter of the Tax Division are prosecuting the case.
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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