Massachusetts exec busted for allegedly dishonest the IRS, getting paid below the desk

A former native exec is accused of dishonest the IRS by getting paid greater than $1.6 million in compensation and fringe advantages below the desk.

Marlboro man Stephen Hochberg, 77 — who was an accounting and actual property govt in Sudbury — was lately charged by the feds. He has agreed to plead responsible to perpetrating the multi-year scheme.

Hochberg, who was beforehand convicted of wire fraud and securities fraud, can be accused of mendacity to the U.S. Legal professional’s Workplace about his revenue to keep away from paying restitution he owed to victims of the sooner fraud scheme.

In keeping with the feds, Hochberg and his enterprise companion Charles Katz agreed as early as 2014 to cheat the IRS.

They allegedly agreed that Hochberg — who was the director of company companies at Katz’s accounting agency and the COO at Katz’s actual property agency — could be paid important compensation off the books in order that Hochberg would have tax-free revenue.

Additionally, this scheme would imply that Katz’s companies – CD Katz LLC and Gebsco Realty Company – would have decrease employment taxes.

Over time, Katz allegedly paid Hochberg’s household, supplied rent-free housing to Hochberg’s ex-wife, paid faculty tuition for his youngsters, and paid private bills that Hochberg and his ex-wife charged on company bank cards.

Katz allegedly paid Hochberg a minimum of $1,668,487 in unreported revenue, and prevented taxes of a minimum of $835,105.

In 2008, Hochberg was convicted of eight counts of wire fraud and 9 counts of securities fraud. He was sentenced to greater than 5 years in federal jail, and he was ordered to pay nearly $1.8 million to his victims.

Along with his and Katz’s scheme, he allegedly lied to the U.S. Legal professional’s Workplace about his revenue from Katz’s companies and obstructed the gathering of restitution he owed victims.