BOSTON – A Boxford businessman was charged today and pleaded guilty to defrauding the government of more than $ 1.45 million by participating in a multi-year tax evasion program and defrauding a customer by providing plumbing services Has billed that he has not paid.
Jared Derrico, aka “Jay”, 35, has been charged and has agreed to plead guilty of tax evasion in one case and postal fraud in two cases. The court has not yet scheduled a hearing in front of the court.
According to the accounting records, Derrico operated a plumbing company for the tax years 2015 to 2019, known among others as Derrico Services and The Pipe Surgeon. During this time, Derrico is said to have collected payments from its customers or deposited them into his personal accounts, but this income was not reported in this tax return. It is also alleged that Derrico fraudulently obtained payments for installing air conditioning on a property in Boston, but actually failed to install it.
The tax evasion allegation includes a prison sentence of up to five years, a supervised release of up to three years, and a fine of $ 250,000 or double gross profit or loss, whichever is greater. The postal fraud charge provides for a prison sentence of up to 20 years, a custodial release for up to three years, and a fine of $ 250,000 or double gross profit or loss, whichever is greater. Under the terms of the Plea Agreement, Derrico pays compensation to the IRS and is required to pay compensation to victims of the accused fraud scheme if the court accepts. The sentences are passed by a federal district judge based on US sentencing guidelines and other legal factors.
This was announced by US prosecutor Rachael S. Rollins and Joleen D. Simpson, special agent in Boston. The United State Postal Inspection Service and the Ipswich Police Department also provided valuable assistance in the investigation. U.S. Assistant Attorney Kriss Basil of Rollins’ Securities, Financial & Cyber Fraud Unit is pursuing the case.