Oneida County household associates who ran doughnut and espresso retailers in the Mohawk Valley will provide time for tax evasion and making use of unreported income to fund a lavish life style, federal prosecutors claimed Wednesday.
In November, John Zourdos, 69, his spouse, Helen Zourdos, 65, and their son, Dimitrios Zourdos, 39, ended up just about every convicted by a federal jury of conspiracy to defraud the United States, tax evasion, and assisting to file phony corporate tax returns.
District Court docket Judge David N. Hurd sentenced John Zourdos to 30 months’ imprisonment Helen Zourdos to 20 months’ imprisonment and Dimitrios Zourdos to 10 months’ imprisonment, in accordance to the U.S. Justice Department. Hurd also purchased them to pay back just above $2 million in restitution to the United States and to serve 3 decades of supervised release immediately after they comprehensive their phrases of incarceration.
In accordance to proof offered at trial and other court docket files, the Zourdos operated three Dippin Donuts outlets in Rome and New Hartford. From 2012 to 2017, they concealed from the IRS about $4.5 million in funds profits. They also evaded a lot more than $2 million in particular person and corporate taxes, by, among the other things, depositing cash specifically into their individual financial institution accounts as an alternative of into organization bank accounts, providing incomplete data to their accountants, resulting in their accountants to file false specific and corporate tax returns with the IRS, and funding private expenses directly with undeposited and unreported income, authorities mentioned.
They made use of unreported earnings to buy luxury automobiles, high priced watches, financial investment accounts and authentic estate. They also compensated some of their staff members “off the books” funds wages to prevent federal payroll taxes, prosecutors stated.
The scenario was investigated by the IRS Prison Investigation Division and prosecuted by Assistant Main John N. Kane of the Justice Department’s Tax Division and Assistant U.S. Attorney Michael F. Perry.