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North Tonawanda Tax Preparer Sentenced for $800,000 Scheme
BUFFALO, N.Y. – A North Tonawanda man was sentenced to 30 months in prison and ordered to pay more than $800,000 in restitution for his role in a tax evasion and bank fraud scheme.
Vincent P. Mangione, 49, operated MTS Payroll and Mil-Sher Tax Services, Inc., which provided payroll services and bookkeeping and tax preparation for individuals and businesses.
Between December 2002 and April 2007, Mangione filed fraudulent quarterly federal tax returns, underrepresenting the amount owed to the IRS and keeping the difference for his own benefit.
The defendant also defrauded a local bank by depositing checks into an account with insufficient funds and then withdrawing the funds prior to the checks clearing.
The loss associated with both schemes totaled over $800,000, making Mangione’s crimes a significant blow to the community.
U.S. Attorney William J. Hochul, Jr. announced the sentencing, which is the culmination of an investigation by the Internal Revenue Service and the United States Secret Service.
Chief U.S. District Judge William M. Skretny imposed the sentence, while Assistant U.S. Attorney Michael DiGiacomo handled the case.
The sentencing is a victory for the victims, who will receive restitution for their losses.
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Key Facts
- State: New York
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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