By: Najla Alexander
NJ AG authorities announced that a Monmouth County man was arrested today for tax evasion and endeavoring to obstruct the administration of IRS laws.
U.S. Attorney Philip R. Sellinger said that Matthew Tucci, 51, of West Long Branch, is charged in an indictment unsealed today with one count each of willfully attempting to evade the payment of his 2015 and 2016 taxes and corruptly endeavoring to obstruct the administration of IRS laws.
Officials stated that he is scheduled to make his initial appearance this afternoon before U.S. Magistrate Judge Tonianne J. Bongiovanni in Trenton federal court.
According to the documents filed in this case:
In 2015 and 2016, officials say, Tucci received millions of dollars in income from refunds issued by the Customs and Tax Administration of the Kingdom of Denmark.
Officials said Tucci subsequently reported on his federal tax returns for those years that he owed over $2 million in taxes based on his receiving that income.
Authorities say despite admitting that he owed those taxes, Tucci failed to fully pay his taxes when they were due.
Accoridng to officials, Tucci purchased more than $7.6 million worth of real estate and attempted to conceal his assets from the IRS by engaging in a series of fraudulent transactions, many of which were designed to disguise the true ownership of the real estate he purchased and controlled.
Tucci also made false statements to IRS revenue officers in connection with collection proceedings and failed to disclose material facts to the IRS concerning his financial resources and his ability and intent to pay his outstanding tax liabilities, officials said.
The count of tax evasion carries a maximum potential penalty of five years in prison and a maximum fine of $250,000, authorities say. The count of obstructing the administration of IRS laws carries a maximum potential penalty of three years in prison and a maximum fine of $100,000.