Date: April 19, 2021

Contact: newsroom@ci.irs.gov

Leonard C Boyle, Acting United States Attorney for the District of Connecticut, and Ramsey E. Covington, Acting Special Agent in Charge of IRS Criminal Investigation in New England, today announced that Robert T. Colgan of Norwalk, waived his right to be indicted and pleaded guilty today before U.S. District Judge Victor A. Bolden to a federal tax offense.

Pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the court proceeding occurred via videoconference.

According to court documents and statements made in court, Colgan controlled a business known as Colgan Financial Group, Inc. ("CFG"), and he employed a bookkeeper to maintain CFG's books and a return preparer to assist him in the preparation of both CFG's corporate tax returns and his personal income tax returns. Colgan used CFG funds to pay for personal expenditures, but directed his bookkeeper to record the payments as a loan in CFG's books. As a result, Colgan's personal income tax returns for the 2013 through 2017 tax years underreported his income and resulted in a tax loss of more than $250,000.

Colgan pleaded guilty to one count of filing of a false tax return, an offense that carries a maximum term of imprisonment of three years. He is released pending sentencing, which is not scheduled.

This investigation is being conducted by the Internal Revenue Service, Criminal Investigation Division. The case is being prosecuted by Assistant U.S. Attorney Ray Miller.