Date: January 29, 2020
CAMDEN, N.J. – The owner of a Wildwood Crest, New Jersey, pizzeria today admitted five counts of filing a false income tax return.
Giuseppe D'Arancio of Cape May Court House, New Jersey, pleaded guilty before U.S. District Judge Joseph H. Rodriguez in Camden federal court to an information charging him with five counts of filing a false income tax return for tax years 2012 through 2016.
According to the documents filed in this case and statements made in court:
D'Arancio and another individual owned and operated a pizzeria and kept two sets of accounting books. For tax years 2012 through 2016, D'Arancio knowingly filed false tax returns which underreported the pizzeria's taxable income by approximately $1.2 million. As a result, D'Arancio failed to pay more than $425,000 in income taxes.
Each of the five counts of filing a false tax return carries a maximum potential penalty of three years in prison, and a fine of the greater of $100,000, twice the gross profits to D'Arancio or twice the gross losses to the victim of his offense. Sentencing is scheduled for May 4, 2020.
This investigation leading to today's guilty plea was conducted by special agents of IRS-Criminal Investigation, under the direction of Special Agent in Charge John R. Tafur.
The government is represented by Assistant U.S. Attorney Diana Vondra Carrig of the U.S. Attorney's Office Criminal Division in Camden.