Date: November 3, 2020 Contact: email@example.com Boston, MA – The owner of a Revere towing company pleaded guilty yesterday to engaging in an under-the-table payroll fraud scheme that defrauded the government of more than $3.3 million, announced Acting Special Agent in Charge of the Internal Revenue Service's Criminal Investigation in Boston. Gennaro Angiulo, of Nahant and Saugus, pleaded guilty to one count of willful failure to collect and pay over taxes and one count of evading cash transaction reporting requirements. U.S. Senior District Court Judge Douglas P. Woodlock scheduled sentencing for March 2, 2021. For tax years 2014 through at least 2017, Angiulo paid a portion of the wages to employees of his company, GJ Towing, in cash "under the table." In doing so, Angiulo did not collect, account for or pay over to the IRS required withholding and FICA taxes. The cash payments to employees were funded, at least in part, by cashing checks from clients of GJ Towing and other third parties in groups totaling not more than $10,000 in a single day. The charge of willful failure to collect and pay over taxes provides for a sentence of up to five years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. The charge of evading cash transaction reporting requirements provides for a sentence of up to 10 years in prison, up to five years of supervised release, a fine of $500,000 and forfeiture. Angiulo is also required to pay restitution to the IRS. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors. Assistant U.S. Attorney Sara Miron Bloom of Lelling's Securities, Financial & Cyber Fraud Unit is prosecuting the case.