The president of Caliper Farms Nursery has pleaded guilty to one count of personal income tax evasion, and faces a maximum five years in prison and $250,000 fine.
Angelo Dimeglio, owner of the Belle Meade, New Jersey, landscaping company, admitted to hiding $500,000 from the Internal Revenue Service in 2011.
Prosecutors charged him with falsifying his returns in other years, but his plea deal excused these, according to NJ.com. The IRS says that, in other years, a total of $1.6 million in income was not reported, resulting in a tax loss of $429,898.
“As we continue with this year’s filing season, today’s guilty plea by Mr. Dimeglio should serve as a strong reminder that IRS-Criminal Investigation takes criminal violations of our nation’s tax laws very seriously,” Jonathan D. Larsen, special agent in charge at the IRS’ Newark Field Office said in a statement.
According to court documents, Dimeglio allegedly cashed or deposited customer checks into his personal bank account or accounts owned by family members instead of Caliper Farms Nursery’s business account. He also wrote checks from the business to himself or family members. On top of all of this, he provided false information to the tax preparer.
In 2011, he only reported $25,896 of taxable income, conveniently omitting the $520,968 of income that Caliper Farms Nursery generated. According to the IRS, Dimeglio should have paid $158,619 on that income.
As part of his plea deal, he will also have to turn over his files to attorneys so they can investigate possible civil penalties. Dimeglio is scheduled for sentencing on June 11.