01-09-06 -- Bloom, Ira -- Indictment -- News Release

West Orange Businessman Indicted for Alleged Tax Evasion

NEWARK – A federal grand jury today indicted a property manager for the Kushner Companies of Florham Park on three counts of tax evasion, which resulted in a tax loss of $91,701 to the government, U.S. Attorney Christopher J. Christie announced.

The Indictment alleges that Ira Bloom, 48, of West Orange, was an employee of a business – not specifically identified in the Indictment – which encompassed more than one-hundred residential, office, hotel, and commercial real estate partnerships, limited liability corporations and management companies, located primarily in the New Jersey/Tri-State area, (the Real Estate Partnerships). The Indictment alleges that Bloom evaded taxes by failing to include $265,057 in income that he received from the Real Estate Partnerships on his U.S. Individual Income Tax Returns for the years 2000, 2001 and 2002.

The Indictment alleges that Bloom received checks in all three years made payable to him personally, which he deposited into his personal checking account, but failed to declare on his returns. In addition, Bloom received undeclared income from the Real Estate Partnerships in the form of checks totaling $200,000, made payable to financial institutions and credited against loans or lines of credit that Bloom maintained at those institutions.

The Indictment alleges that one of the partners of the Real Estate Partnerships controlled the financial institution at which $150,000 in partnership checks were deposited and credited to Bloom’s accounts.

There will be no court appearance for Bloom today. He will be arraigned on the Indictment at a date to be set by the judge to whom the case is assigned.

Despite indictment, all defendants are presumed innocent unless and until proved guilty beyond a reasonable doubt.

The Indictment charges Bloom with three counts of evasion of income taxes, each of which carries a maximum penalty of five years in prison and a $100,000 fine.

Christie credited Special Agents and Revenue Agents of the IRS, under the direction of Special Agent in Charge Patricia J. Haynes, and Special Agents of the Newark FBI, under the direction of Special Agent in Charge Leslie Wiser, Jr., with the investigation leading to today's indictment. The case is being prosecuted by Assistant U.S. Attorney Thomas J. Eicher.

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Defense Counsel: Peter Driscoll, Esq. N.Y.