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An investment advisor pleaded guilty to tax charges.
Thomas Pacilio, 64, of Westport, Connecticut, admitted that, for the 2015 through 2018 tax years, he filed individual income tax returns that omitted installment payments he received from the sale of his financial services company, Clapboard Hill Advisors.
Pacilio omitted more than $1.4 million that should have been reported either as ordinary income or as capital gains, which resulted in a tax loss of $286,328 to the IRS. He faces up to three years in prison.
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