Gary DeCicco and Pamela Avedisian of Nahant, MA, were charged with multiple felonies, including two counts of tax evasion, one count of conspiracy to commit bank fraud, four counts of wire fraud and six counts of engaging in unlawful monetary transactions.
Between April 2012 and February 2013, DeCicco told the IRS that he did not have the ability to pay his more than $340,000 tax liability. He repeatedly claimed he had very little cash, no vehicles or real properties during that time.
According to the IRS, he had ownership of several businesses, vehicles and real estate, titled to other entities to conceal his ownership from the IRS.
Originally, the IRS accepted a monthly installment plan based on false information. During that time, DeCicco allegedly bought and sold numerous real properties, boats, luxury cars, concealing the sales with the help of Avedisian.
The couple could face up to 5 years in prison for each count of tax evasion, up to 30 years for wire fraud and conspiracy to commit bank fraud, and up to 20 years for unlawful monetary transactions consecutively, as well as supervised release and monetary fines and penalties.