Wildwood Crest Pizzeria Owner Gets 15 Months for False Tax Returns
The owner of a Wildwood Crest pizzeria was sentenced today to 15 months in prison for filing false income tax returns.
U.S. Attorney Craig Carpenito says 61-year-old Giuseppe D’Arancio of Cape May Court House previously pleaded guilty to an information charging him with five counts of filing a false income tax return for tax years 2012 through 2016.
The Philadelphia Inquirer reports D'Arancio owns Sal’s Ristorante & Pizzeria, located at 8500 New Jersey Avenue.
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.
In addition to the prison term, D’Arancio was sentenced to one year of supervised release and he was ordered to pay $507,246 in restitution to the IRS.