Lawmaker, business partner to plead guilty to tax fraud

A state lawmaker and his business partner will plead guilty to federal tax fraud charges, the U.S. attorney for Rhode Island said Friday.

Deputy Speaker John McCauley Jr. and William L’Europa were charged with conspiracy to defraud the United States and filing false returns.

They are owners and operators of McCauley and L’Europa Public Adjusters LLC and PIA Restoration LLC.  The FBI raided the company’s offices in November.

According to the documents filed with the court, McCauley and L’Europa allegedly underreported business receipts for tax years 2007 through 2010 by nearly $1.8 million, resulting in the underpayment of federal taxes to the Internal Revenue Service of more than $500,000.

As part of a plea agreement, the men have to file amended tax returns.

McCauley and L’Europa each face up to eight years in prison and fines up to $500,000.

Article source: http://www2.turnto10.com/news/2012/sep/14/business-partners-plead-guilty-tax-fraud-ar-1171577/

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