August 30, 2002

PRESS RELEASE

NORTH READING MAN CHARGED WITH TAX OFFENSES

Boston, MA... A grand jury indicted a North Reading man yesterday on federal tax offenses.

United States Attorney Michael J. Sullivan, Eileen J. O'Connor, Assistant Attorney General in the Department of Justice's Tax Division, and Joseph A. Galasso, Special Agent in Charge of the U.S. Internal Revenue Service, Criminal Investigation, announced that a federal grand jury returned a two-count indictment yesterday charging STEVEN A. LABO, age 46, of North Reading, Massachusetts, with signing and filing false income tax returns for the tax years 1993 and 1994.

The indictment alleges that LABO signed and filed with the Internal Revenue Service materially false income tax returns for the 1993 and 1994 tax years by substantially understating the gross receipts of his business, American Carpet Company.

If convicted, LABO faces a maximum penalty on each of the two charges of three years' imprisonment. Both counts are also punishable by fines of up to $250,000.

The investigation leading to the indictment was conducted by Special Agents of the U.S. Internal Revenue Service, Criminal Investigation. The case is being prosecuted by Scott Lawson, Trial Attorney with the Department of Justice, Tax Division.

Press Contact: Samantha Martin, (617) 748-3139