Louisville man pleads guilty to tax evasion

 

Date: June 28, 2021

Contact: newsroom@ci.irs.gov

Louisville, Kentucky — Frank Littriello of Louisville, Kentucky, pleaded guilty to two counts of tax evasion. Littriello was sentenced three years of probation including 6 months of home incarceration. He acknowledged a debt of $1,510,549.98 to the IRS.

"In an attempt to evade paying tax debt that he accumulated, Mr. Littriello submitted false documents to the IRS," said Bryant Jackson, Special Agent in Charge, IRS, Criminal Investigation. "IRS CI will continue to commit substantial investigative resources to pursuing tax crimes."

According to court records, on June 30, 2009, and continuing through June 25, 2013, Littriello purchased a property with corporate proceeds, and later classified it as a loan, located at 350 N. Evergreen in Louisville, in the name of Paramount Real Estate Investments LLC, which is a company owned by Littriello's wife. Littriello structured loan payments on this property to conceal his ownership of the property from the Internal Revenue Service and to evade payment of substantial payroll tax liabilities. The purchase price was $614,328.15.

In addition, on or about October 20, 2009 and continuing through December 8, 2016, Littriello purchased a property with corporate proceeds, and later classified it as a loan, located at 3605 Red Fox Lane in New Albany, Indiana, in the name of Paramount Real Estate Investments LLC. Littriello structured loan payments on this property to conceal his ownership of this property from the Internal Revenue Service to evade payment of substantial payroll tax liabilities. The purchase price was $112,064.32. The property was later sold and proceeds of $88,600 were deposited into Littriello's wife's account.

On or about December 10, 2009 and May 29, 2010, Littriello sign and submitted fraudulent personal and business Offer in Compromises, which he knew were false when he claimed he did not hold any personal or business real estate other than his home located at 14709 Forest Oaks Drive in Louisville, Kentucky. In fact, he purchased and controlled the properties located at 350 N. Evergreen, in Louisville, and 3605 Red Fox Lane, in New Albany, IN 47150.

This case was prosecuted by Assistant United States Attorney David R. Weiser . The investigation was conducted by the Internal Revenue Service Criminal Investigation.