U.S. Department of Justice
Peter F. Neronha
United States Attorney
District of Rhode Island
February 21, 2012
R.I. Salvage Firm Owner Pleads Guilty to Tax Evasion
Owner of Oakvale Enterprises, Inc. admits to failing to report over $818,000 in income
PROVIDENCE, R.I. – The owner and operator of a Rhode Island metals salvage firm has pled guilty in federal court in Providence to failing to report to the Internal Revenue Service over $818,000 of income between 2005 through 2007 and failing to pay more than $147,000 in federal taxes, announced United States Attorney Peter F. Neronha and William P. Offord, Special Agent in Charge of the Boston office of the Internal Revenue Service, Criminal Investigation.
Andrew Tait, 53, of Scituate, owner of Oakvale Enterprises, Inc., pled guilty on Friday to three counts of filing a false tax return. Tait faces up to nine years in federal prison and a fine of up to $750,000 when he is sentenced on May 4, 2012, by U.S. District Court Judge John J McConnell, Jr.
According to information presented to the court, between 2005 and 2007, Oakvale Enterprises and Tait failed to report gross receipts totalling $818,638.50, which resulted in a tax loss to the United States of $147,095.
The investigation into Tait originated when agents from the Internal Revenue Service, Criminal Investigation were investigating the check-cashing practices of another individual, Vincent Aiello and Aiello's check-cashing business, NorthPro Services, of North Providence, R.I., for violations of the Bank Secrecy Act. An investigation and audit of North Pro Services found that between March 2005 and July 2007, Aiello failed to report dozens of transactions in excess of $10,000, and that he allowed the same person or persons to affect more than one transaction in excess of $10,000 on the same date without reporting the transactions, all in violation of the Bank Secrecy Act. As a result of that investigation, several large volume customers of NorthPro Services were identified, one of which was Tait.
Aiello pled guilty in U.S. District Court in Providence in May 2010 to violating the Bank Secrecy Act. He was sentenced in October 2010 to five years of probation and ordered to pay a fine of $30,000.
The case against Andrew Tait is being prosecuted by Assistant U.S. Attorney Terrence P. Donnelly