Hardy Man Sentenced on Tax Charge
Dana C. Nuccio to Serve Probation, Ordered to Perform Community Service
LYNCHBURG, VIRGINIA -- A straw buyer who lied on a tax form and was part of a larger mortgage fraud scheme was sentenced this morning in the United States District Court for the Western District of Virginia in Lynchburg to a tax charge.
Dana C. Nuccio, 45, of Hardy, Va., previously waived his right to be indicted and pled guilty to a one count information charging him with willfully making and subscribing a return, statement or other document, under the penalty of perjury, that was not true and correct.
This morning, Nuccio was sentenced to one year of probation and was ordered to perform 80 hours of community service. He must also pay a special assessment of $100 and file an amended tax return for FY 2007.
“Mr. Nuccio and his co-conspirators enriched themselves by engaging in sham mortgage transactions which defrauded banks,” United States Attorney Timothy J. Heaphy said today. “His failure to pay taxes on the money he received through this scheme justly landed him in federal court. This office will continue to pursue mortgage and other forms of financial fraud and bring to justice those who fail to pay their fair share of federal taxes.”
According to evidence presented at previous hearings by Assistant United States Attorney Charlene Day, Nuccio was involved with a mortgage fraud scheme involving Timothy Scott Brooks, Adam Spruill and Susan Helbig. The three would find credit worthy individuals to act as straw buyers to apply for property loans and/or construction loans. These straw buyers would falsify their loan documents to show overstated income and assets. Each straw buyer was paid “good faith” money or kickbacks when the loan closed.
Nuccio admitted to being a straw buyer who received a $20,000 “good faith” payment and also to not claiming the payment as income on his FY 2007 tax return.
The investigation of the case was conducted by the Federal Bureau of Investigation, the United States Postal Inspection Service and the Internal Revenue Service. Assistant United States Attorneys Charlene Day and C. Patrick Hogeboom III are prosecuting the case for the United States.