Massachusetts Insurance Broker Sentenced to Prison for Filing False Tax Returns

A Dover, Massachusetts, insurance broker was sentenced today to eight months in prison for filing false tax returns, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney Andrew E. Lelling for the District of Massachusetts.

According to the evidence presented at trial, Anthony J. May, 62, owned and operated Clients First Financial Insurance Agency LLC, through which May sold life insurance products as an insurance broker, and Advantage Life Settlements LLC, through which he served as a broker for insured individuals seeking to sell their personal life insurance policies to third party investors.  May operated his businesses out of an office suite in Hingham, where he also leased office space to other independent insurance agents.  May filed false 2006 through 2009 individual income tax returns that did not report more than $738,000 in income that he received from insurance commissions, brokerage fees, and office rental payments.

In addition to the term of imprisonment, U.S. District Court Judge William G. Young ordered May to serve one year of supervised release.  May was previously convicted following a jury trial in May 2017 of filing false 2008 and 2009 tax returns.   

Principal Deputy Assistant Attorney General Zuckerman and U.S. Attorney Lelling praised special agents of the Internal Revenue Service Criminal Investigation, who conducted the investigation, and Trial Attorney Eric Powers of the Tax Division and Assistant U.S. Attorney Victor A. Wild, who prosecuted the case.

Additional information about the Tax Division and its enforcement efforts may be found on the division’s website.