According to the DoJ the former President and CEO of a Pennsylvania health services management company was indicted by a federal grand jury in Pittsburgh on February 13, 2018 for conspiring to defraud the United States and filing fraudulent income tax returns.
- The construction of his 39,000 square-foot home in Sewickley, which Nocito referred to as “Villa Noci,”
- Payments on a Jaguar, Maserati, and Rolls Royce,
- A Personal Butler
- A Personal Cook, and
- Country Club Memberships.
Nocito is also charged with understating his income on his personal tax returns by not reporting the income he diverted for personal expenses.
The indictment further alleges that Nocito concealed millions in taxable profits of AHS by shuffling millions in payments between AHS and other companies Nocito owned, such as Northland Properties, Golden Triangle Leasing, Management Financial Services, in order to fraudulently deduct the payments as business expenses and reduce the tax liability of AHS.
Nocito is accused of falsely characterizing these payments as management, administrative and consulting expenses, and in turn fraudulently deducting the payments on corporate tax returns filed with the IRS.
Each Count of Filing a Fraudulent Tax Return.
He also faces a period of supervised release, restitution and monetary penalties. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offenses and the criminal history, if any, of the defendant. An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.
Read more at: Tax Times blog