By: Richard L. Smith
A Passaic County resident has pleaded guilty to charges related to a $3.5 million payroll tax evasion scheme, U.S. Attorney Philip R. Sellinger announced.
Accoridng to federal officials, Walter Hass, 62, of Hewitt, New Jersey, admitted his guilt before U.S. District Judge Evelyn Padin in Newark federal court, facing a charge of failing to collect, account for, and pay over payroll taxes.
The charges reveal that Hass, the owner and operator of a shipping and logistics company in Oakland neglected his payroll tax obligations from 2014 to 2022.
Court documents indicate that Hass operated his company under three different names over the years.
Instead of paying taxes owed to the IRS, Hass allegedly used company funds for personal luxuries, purchasing high-end cars like Aston Martins and McLarens, along with designer jewelry, clothing, tickets to sports events, home renovations, vacations, and extravagant meals.
Hass faces a potential prison sentence of up to five years and a fine of $250,000 or twice the financial loss caused by the scheme.
Sentencing is scheduled for April 22, 2025.