Seymour Man Pleads Guilty To Filing False Tax Return
Deirdre M. Daly, United States Attorney for the District of Connecticut, and IRS-Criminal Investigation Special Agent in Charge William P. Offord, announced that MICHAEL S. VASATURO, 56, of Seymour, waived his right to indictment and pleaded guilty today before U.S. District Judge Alvin W. Thompson in Hartford to filing a false tax return.
According to court filings and statements made in court, VASATURO, a business executive, earned supplemental income of approximately $132,500 in 2007 based on a private sale of copper to a scrap metal dealer, but failed to report any of the copper sale income on his 2007 federal income tax return.
VASATURO has paid the Internal Revenue Service $80,964.81 for the taxes plus interest and penalties due and owing on that unreported income. VASATURO also agreed to forfeit an additional $144,888.39 in cash that he admits to having “structured” into his bank account to avoid federal cash transaction reporting requirements.
VASATURO faces maximum penalties of three years imprisonment and a $100,000 fine. He is scheduled to be sentenced before Judge Thompson on November 14, 2014.
This matter was investigated by the Internal Revenue Service – Criminal Investigations Division. The case is being prosecuted by Assistant United States Attorney Henry K. Kopel.
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