NEWINGTON MAN SENTENCED FOR FILING FALSE TAX RETURN

United States Attorney Kevin J. O'Connor announced today that DOUGLAS R. BUDNICK, age 41, of Newington, Connecticut, was sentenced today to 10 months imprisonment for filing a false federal individual income tax return. United States District Judge Christopher F. Droney in Hartford also ordered BUDNICK to serve 12 months term of Supervised Release and perform 120 hours of community service upon his release from prison.

BUDNICK pled guilty on February 25, 2003 and admitted that on April 12, 2000, he knowingly and wilfully filed a false 1999 federal individual income tax return in which he failed to report a substantial amount of income. Specifically, he acknowledged that he and his ex-wife reported that they had a combined negative total income of $59,475, when in reality they had received approximately $2,167,985 in money which she had embezzled from her employer, the Connecticut Attorney's Title Insurance Company, during that calendar year. DENISE BUDNICK earlier entered a plea of guilty in federal court to mail fraud and tax charges. Denise Budnick is scheduled to be sentenced by Judge Droney on August 22, 2003.

The case was investigated by Special Agents of the Internal Revenue Service Criminal Investigation and Federal Bureau of Investigation and was prosecuted by Assistant United States Attorney James G. Genco.

CONTACT:

U.S. ATTORNEY'S OFFICE
Penny Newcomb
Tel: (203) 821-3725