TRENTON, N.J. — Federal prosecutors say the owner of a New Jersey trucking company owner has been sentenced to 18 months in prison in a tax evasion scheme.
Fifty-four-year-old Giacomo Giorlando, of Morganville, pleaded guilty last summer to three counts of tax evasion and one count of bankruptcy fraud in federal court in Trenton.
Prosecutors said Giorlando was hiding at least 11 banks accounts he used for both business revenue and personal funds when he filed for bankruptcy in May 2014.
Authorities said the 4G’s Trucking owner was responsible for a $460,012 tax loss due to concealed income and inflated business expenses. The U.S. attorney’s office says he was ordered Thursday to pay $750,000 in restitution to the IRS and $65,000 to victims.