Financial Fraud: Frederick Ippolito Sentenced For $548,487.00 Tax Evasion

Financial Fraud
Sentenced For Tax Evasion

Town Of Oyster Bay Commissioner Sentenced To 27 Months In Prison For Tax Evasion

Defendant Willfully Failed to Report Over $2 Million in Consulting Fees

Earlier today in Central Islip, New York, Frederick Ippolito, former Town of Oyster Bay Commissioner of Planning and Development, was sentenced to 27 months’ imprisonment, three years of supervised release, and $548,487.00 in restitution, following his guilty plea on January 26, 2016, to tax evasion.  The sentencing proceeding was held before U.S. District Judge Leonard D. Wexler.

The sentence was announced by Robert L. Capers, United States Attorney for the Eastern District of New York, and Shantelle P. Kitchen, Special Agent-in-Charge, Internal Revenue Service-Criminal Investigation, New York (IRS).

In announcing the sentence, United States Attorney Capers stated, “Today’s sentence reinforces that no one is immune from the laws of the United States.  The defendant’s position as an influential official within a local municipality did not exempt him from paying his fair share of taxes, just like any other citizen.  He has now been held accountable for his actions.”  Mr. Capers extended his grateful appreciation to IRS-Criminal Investigation, the agency responsible for leading the government’s investigation.

From 2008 to 2013, Ippolito received over $2 million in consulting fees from Carlo Lizza & Sons Paving, Inc., a company located in Old Bethpage, New York, as well as from a principal of that company.  Ippolito evaded taxes on that income by willfully failing to report it on his personal tax returns or the returns of entities he controlled.  Ippolito is the President of CAI Associates, LTD, a consulting and snow removal business, and a former officer of CAI Restaurant, Inc., d/b/a Christiano’s, in Syosset, New York.

From 2009 through January 2016, Ippolito served as the Commissioner of Planning and Development for the Town of Oyster Bay (TOB), a municipality in Nassau County, New York.  The TOB’s Department of Planning and Development was responsible for the enforcement of all codes, rules, and ordinances pertaining to building and zoning, and supervised the issuance of permits for construction within the TOB.  As Commissioner, Ippolito oversaw the TOB Department of Planning and Development’s several divisions, which included, among others, the Building Division, the Code Compliance Bureau, the Division of Administration of Board of Appeals, and the Planning Division.  Ippolito’s resignation as a Commissioner was accepted by the TOB following his guilty plea.

The government’s case is being handled by the Office’s Long Island Criminal Section.  Assistant United States Attorneys Catherine M. Mirabile and Raymond A. Tierney are in charge of the prosecution.

The Defendant:

Age:  77
Syosset, New York

E.D.N.Y. Docket No. 15-CR-129 (LDW)

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