EAST LYME REAL ESTATE DEVELOPER
TO FEDERAL PRISON FOR FAILING TO PAY TAXES
David B. Fein, United States Attorney for the District of Connecticut, announced that JEFFREY A. TORRANCE, 54, of East Lyme, was sentenced today by Senior United States District Judge Alfred V. Covello in Hartford to six months of imprisonment, followed by one year of supervised release, the first six months of which TORRANCE must spend in home confinement. On April 5, 2011, TORRANCE pleaded guilty to one count of filing a false federal income tax return.
According to court documents and statements made in court, TORRANCE has been self-employed as a golf course consultant and real estate developer. TORRANCE also has served as the general partner of an entity known of the “Torrance Family Limited Partnership,” controlling the Partnership’s assets and bank accounts. In 2000, TORRANCE sold four properties in Jaffrey, New Hampshire, on behalf of the Partnership. The proceeds of these sales were then deposited into the Partnership’s bank accounts. In May 2002, TORRANCE knowingly and willfully filed a false federal income tax return for 2000 by failing to report $65,150 in income he received from the Partnership or an entity owned by the Partnership. The income was derived, in part, from checks that TORRANCE wrote payable to himself, his wife and a contractor.
In addition to owing approximately $18,242 in back taxes for the year 2000, TORRANCE also owes approximately $70,961 in additional federal income taxes, penalties and interest for the years 1992, 1996, 1997, 1998 and 1999.
Today, TORRANCE paid restitution in the amount of $52,770.20, which will be credited toward his outstanding tax liability for the 2000 and prior tax years. He also must cooperate with the IRS to pay any additional outstanding taxes, interest and penalties, and to file all past due returns and timely file all future tax returns.
This case was investigated by the Internal Revenue Service – Criminal Investigation. The case was prosecuted by Assistant United States Attorneys Lisa E. Perkins and Peter S. Jongbloed.
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