Payroll Service Company Operator Pleads Guilty to Tax Evasion
Las Vegas, Nev. – John V. Troiano, age 38, of Las Vegas, pled guilty on Tuesday, August 7, 2007, to one count of Tax Evasion for his failure to pay personal income taxes on more than $400,000 he embezzled from his client's payroll taxes, announced Steven W. Myhre, Acting United States Attorney for the District of Nevada.
According to court records, from October 1, 2005, to December 31, 2006, John V. Troiano controlled a business named Accuserve, which collected payroll taxes from clients and paid them to the Internal Revenue Service. During 2005 and 2006, Troiano, through Accuserve, collected payroll taxes from Shepard Eye Center, but remitted only a portion of Shepard's payroll taxes to the IRS. Troiano deposited Shepard's payroll taxes into one of Accuserve's bank accounts, transferred the payroll taxes to another Accuserve bank account, and then, embezzled approximately $436,571.36 of the payroll taxes for his own use and benefit. Troiano failed to report the embezzled income on his 2005 tax return, and did not file a 2006 tax return, thereby causing the embezzled income to be unreported. The income tax loss to the IRS as a result of the embezzlement was $115,943
Troiano is scheduled to be sentenced at 9:00 a.m. on November 7, 2007, before United States District Judge Kent J. Dawson. He faces up to five years in prison and a $250,000 fine.
The case is being investigated by IRS Criminal Investigation and the FBI, and prosecuted by Assistant United States Attorney Brian Pugh.