New Jersey Cleaning Company Owner Admits Tax Evasion Scheme

[vc_row][vc_column][vc_column_text]A New Jersey cleaning company owner admitted to evading more than $300,000 in tax payments by cashing checks at a check cashing facility, paying employees under the table, and failing to report all his income.

In 2013 and 2014 Peter Jamgochian cashed over two million dollars in check payments made by customers and used the cash to pay employees and for his personal expenses. He concealed this information from the company’s accountant and knowingly filed false corporate returns.

Jamgochian’s actions caused the company to underpay $248,936 in medicare and social security taxes, and he caused the Internal Revenue Service a loss of $76,201 by understating his personal income. He is looking at three years in prison and $250,000 in fines.[/vc_column_text][/vc_column][/vc_row]