⏱ 2 min read
Demetrios Pseudoikonomou, a 55-year-old Belmont businessman, has been charged with aiding the filing of false tax returns, allegedly avoiding over $520,000 in federal income taxes. Pseudoikonomou, who operates a restaurant and apartment building in Boston, deliberately failed to report more than $1.6 million in gross receipts and rental income between 2018 and 2023. The investigation led to his arrest and release on conditions following an initial appearance in federal court in Worcester.
According to the charging documents, Pseudoikonomou told an undercover agent that he regularly underreported his gross receipts and rental income to the IRS. He also expressed concern about being recorded, asking the agent if they were wearing a wire or were a cop. The agent was posing as a prospective buyer for Pseudoikonomou’s businesses.
The charge of aiding the filing of false tax returns carries a sentence of up to three years in prison, up to one year of supervised release, and a fine of $250,000. The case is being prosecuted by Assistant U.S. Attorney Benjamin A. Saltzman of the Securities, Financial & Cyber Fraud Unit.
Pseudoikonomou’s case is a reminder that tax evasion can have serious consequences. The IRS and other law enforcement agencies are cracking down on individuals and businesses that fail to report their income accurately.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Massachusetts
- Location: MA
- Source: DOJ Press Release
