Seymour Man Who Filed False Tax Return, Structured Funds, Is Sentenced
Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that MICHAEL S. VASATURO, 57, of Seymour, was sentenced today by U.S. District Judge Alvin W. Thompson in Hartford to two years of probation for filing a false tax return. He was also ordered to pay a $16,000 fine and perform 100 hours of community service.
According to court documents 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 previously paid the Internal Revenue Service $80,964.81 for the taxes plus interest and penalties due and owing on his unreported income. He also agreed to forfeit an additional $144,888 in cash that he admits to having “structured” into his bank account to avoid federal cash transaction reporting requirements.
On August 22, 2014, VASATURO pleaded guilty to one count of filing a false tax return.
This matter was investigated by the Internal Revenue Service – Criminal Investigation Division and was prosecuted by Assistant U.S. Attorney Henry K. Kopel.
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