Boxford Plumbing Company Owner Charged With Tax Evasion, Mail Fraud | USAO-MA

BOSTON – A Boxford businessman was indicted today and has agreed to plead guilty to defrauding the government of more than $ 1.45 million by engaging in a multi-year tax evasion scheme and defrauding a client by billing him for plumbing services he did not perform.

Jared Derrico, alias “Jay”, 35, has been charged and has agreed to plead guilty to one count of tax evasion and two counts of mail fraud. A plea hearing has not yet been scheduled by the court.

According to tax documents, for the 2015 to 2019 tax years, Derrico operated a plumbing business known as Derrico Services and The Pipe Surgeon. Meanwhile, Derrico reportedly took payments from his clients or deposited them into his personal accounts, but did not report that income on this tax return. It is also alleged that Derrico fraudulently obtained payments for the installation of air conditioning units at a property in Boston, but in fact did not install the units.

The tax evasion charge carries a sentence of up to five years in prison, up to three years of supervised release and a fine of $ 250,000 or double the gross gain or loss, whichever is greater. both. The mail fraud charge carries a sentence of up to 20 years in prison, up to three years of supervised release and a fine of $ 250,000 or double the gross gain or loss, whichever is greater. of them. Under the terms of the plea agreement, Derrico will pay restitution to the IRS and be required to pay restitution to victims of the accused fraud scheme, if the court accepts it. Sentences are imposed by a judge in a federal district court based on US sentencing guidelines and other statutory factors.

US lawyer Rachael S. Rollins and Joleen D. Simpson, Internal Revenue Service Special Agent for Criminal Investigations in Boston, made the announcement today. The United States Postal Inspection Service and the Ipswich Police Department also provided valuable support to the investigation. Deputy US attorney Kriss Basil of Rollins’ Securities, Financial & Cyber ​​Fraud unit is pursuing the case.