Newington Man Is Sentenced To 18 Months In Prison For Tax Evasion Charges
CONCORD, N.H. – Renato Maldini, 55, of Newington, was sentenced in United States District Court for the District of New Hampshire to 18 months in prison and assessed a fine of $50,000 tax evasion offenses, announced United States Attorney John P. Kacavas.
From 2004 through 2007, Maldini, the owner of an electric company in Greenland, New Hampshire, issued to himself 123 non-payroll checks, totalling $1,419,120 from the 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 checks 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.The case was investigated by the Internal Revenue Service, Criminal Investigation Division and prosecuted by Assistant United States Attorney Bob Kinsella.