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

<h2>Town Of Oyster Bay Commissioner Sentenced To 27 Months In Prison For Tax Evasion<&sol;h2>&NewLine;<p class&equals;"node-subtitle center"><strong>Defendant Willfully Failed to Report Over &dollar;2 Million in Consulting Fees<&sol;strong><&sol;p>&NewLine;<div class&equals;"mh-content-ad"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js&quest;client&equals;ca-pub-9162800720558968"&NewLine; crossorigin&equals;"anonymous"><&sol;script>&NewLine;<ins class&equals;"adsbygoogle"&NewLine; style&equals;"display&colon;block&semi; text-align&colon;center&semi;"&NewLine; data-ad-layout&equals;"in-article"&NewLine; data-ad-format&equals;"fluid"&NewLine; data-ad-client&equals;"ca-pub-9162800720558968"&NewLine; data-ad-slot&equals;"1081854981"><&sol;ins>&NewLine;<script>&NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi;&NewLine;<&sol;script><&sol;div>&NewLine;<p>Earlier today in Central Islip&comma; New York&comma; Frederick Ippolito&comma; former Town of Oyster Bay Commissioner of Planning and Development&comma; was sentenced to 27 months’ imprisonment&comma; three years of supervised release&comma; and &dollar;548&comma;487&period;00 in restitution&comma; following his guilty plea on January 26&comma; 2016&comma; to tax evasion&period;  The sentencing proceeding was held before U&period;S&period; District Judge Leonard D&period; Wexler&period;<&sol;p>&NewLine;<p>The sentence was announced by Robert L&period; Capers&comma; United States Attorney for the Eastern District of New York&comma; and Shantelle P&period; Kitchen&comma; Special Agent-in-Charge&comma; Internal Revenue Service-Criminal Investigation&comma; New York &lpar;IRS&rpar;&period;<&sol;p>&NewLine;<p>In announcing the sentence&comma; United States Attorney Capers stated&comma; &OpenCurlyDoubleQuote;Today’s sentence reinforces that no one is immune from the laws of the United States&period;  The defendant’s position as an influential official within a local municipality did not exempt him from paying his fair share of taxes&comma; just like any other citizen&period;  He has now been held accountable for his actions&period;”  Mr&period; Capers extended his grateful appreciation to IRS-Criminal Investigation&comma; the agency responsible for leading the government’s investigation&period;<&sol;p>&NewLine;<p>From 2008 to 2013&comma; Ippolito received over &dollar;2 million in consulting fees from Carlo Lizza &amp&semi; Sons Paving&comma; Inc&period;&comma; a company located in Old Bethpage&comma; New York&comma; as well as from a principal of that company&period;  Ippolito evaded taxes on that income by willfully failing to report it on his personal tax returns or the returns of entities he controlled&period;  Ippolito is the President of CAI Associates&comma; LTD&comma; a consulting and snow removal business&comma; and a former officer of CAI Restaurant&comma; Inc&period;&comma; d&sol;b&sol;a Christiano’s&comma; in Syosset&comma; New York&period;<&sol;p>&NewLine;<p>From 2009 through January 2016&comma; Ippolito served as the Commissioner of Planning and Development for the Town of Oyster Bay &lpar;TOB&rpar;&comma; a municipality in Nassau County&comma; New York&period;  The TOB’s Department of Planning and Development was responsible for the enforcement of all codes&comma; rules&comma; and ordinances pertaining to building and zoning&comma; and supervised the issuance of permits for construction within the TOB&period;  As Commissioner&comma; Ippolito oversaw the TOB Department of Planning and Development’s several divisions&comma; which included&comma; among others&comma; the Building Division&comma; the Code Compliance Bureau&comma; the Division of Administration of Board of Appeals&comma; and the Planning Division&period;  Ippolito’s resignation as a Commissioner was accepted by the TOB following his guilty plea&period;<&sol;p>&NewLine;<p>The government’s case is being handled by the Office’s Long Island Criminal Section&period;  Assistant United States Attorneys Catherine M&period; Mirabile and Raymond A&period; Tierney are in charge of the prosecution&period;<&sol;p>&NewLine;<p><strong><u>The Defendant<&sol;u><&sol;strong><strong>&colon;<&sol;strong><&sol;p>&NewLine;<p>FREDERICK IPPOLITO<br &sol;>&NewLine;Age&colon;  77<br &sol;>&NewLine;Syosset&comma; New York<&sol;p>&NewLine;<p>E&period;D&period;N&period;Y&period; Docket No&period; 15-CR-129 &lpar;LDW&rpar;<&sol;p>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;justice&period;gov&sol;usao-edny&sol;pr&sol;town-oyster-bay-commissioner-sentenced-27-months-prison-tax-evasion">Original PressReleases&&num;8230&semi;<&sol;a><&sol;p>&NewLine;

Financial FraudTax Fraud