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Ocean City businessman pleads guilty to fraud

Businesspeople in New Jersey can come under scrutiny for their financial handlings in a variety of circumstances. In some instances authorities and investigators make a mistake, and in other instances stemming from severe financial pressure, the businessperson may make a mistake. Either scenario can yield serious white collar crime charges. If an individual is convicted of fraud or embezzlement in New Jersey, there can be serious criminal penalties in the form of steep fines and time behind bars.

The owner of an architectural and engineering firm in Ocean City admitted in a New Jersey courtroom yesterday to filing fraudulent corporate tax returns. The 67-year-old Ocean City businessman admitted that from 2005-2009 he filed his corporate tax returns in such a manner that personal expenses for home renovations and country club fees were made to look as though they were credible business deductions.

Accordingly, the businessman pleaded guilty to charges which hold him criminally liable for $63,815 in tax losses from fraudulent filings. This man is set to be sentenced for this crime in June. The maximum penalty that this man could be subjected to is a three-year prison sentence and a $250,000 fine.

Following similar criminal charges in New Jersey, an experienced attorney can build a case for a defendant's dismissal or acquittal. However, not all cases can be successful in achieving such an outcome. In these instances, an attorney is still highly beneficial in negotiating with prosecutors to protect the convicted individual's freedom and explore alternatives to steep fines and jail time. Those alternatives could consist of restitution and psychological counseling. The outcome of this Ocean City businessman's sentencing remains to be seen.

Source:, "Ocean City Business Owner Admits Submitting Fraudulent Tax Returns from 2005-09," Evan Bedard, Feb. 27, 2013

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