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Thursday, April 25, 2024

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OC Pizzeria Owner Admits Tax Fraud

IRS stock

By Herald Staff

OCEAN CITY – Former owner and operator of Mario’s Pizza pled guilty to federal charges over evasion of payroll, personal and corporate income taxes, NJ.com reported.
Ernesto Cannuscio, 70, of Linwood was reportedly in business with the company from 2013 through 2018 and withheld $208,000 in taxes owed to the government over that period of time.
Cannuscio paid many employees in cash and withheld that information from his accountant, NJ.com said.
Cannuscio pled guilty and is scheduled to be sentenced October 25. 
The penalty for such tax fraud carries a maximum five-year federal prison sentence and a fine of up to $250,000.

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