Newington Man Pleads Guilty To Four Tax Evasion Charges
CONCORD, N.H. – Renato Maldini, 53 of Newington, New Hampshire pled guilty in United States District Court for the District of New Hampshire to four counts of tax evasion, announced United States Attorney John P. Kacavas.
Maldini, was the owner of Maldini Electric, Inc, in Greenland, New Hampshire. Beginning in 2004 through 2007, 123 non-payroll checks, totalling $1,419,120, were issued to Maldini from the electric company’s bank account. All 123 checks were deposited to Maldini’s personal bank account. Maldini falsely recorded the purpose for each payment on the memo portion of the checks, checks stubs and the electric company’s general ledger as a payment to a vendor with whom the electric company conducted business.
The tax evasion charges stem from the fact that Maldini wilfully failed to report his receipt of the $1,419,120 on federal tax returns he submitted to the Internal Revenue Service for tax years 2004, 2005, 2006 and 2007. The total tax loss to the IRS was $467,977.
Maldini is scheduled to be sentenced by United States District Court Judge Paul Barbadoro on April 25, 2012. The maximum prison term for tax evasion is five years. The maximum fine for the offense is $100,000.
The case was investigated by the Internal Revenue Service, Criminal Investigation Division and prosecuted by Assistant United States Attorney Robert Kinsella.