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Ridgefield Man Gets A Year In Prison For Tax Evasion

RIDGEFIELD, Conn. -- A Ridgefield man was sentenced to one year in prison and three years of supervised release after failing to pay $200,000 in federal taxes over a five-year period, according to U.S. Attorney Deirdre M. Daly.

A Ridgefield man was sentenced to a year in prison and more than $196,000 in fines for tax evasion on Wednesday.

A Ridgefield man was sentenced to a year in prison and more than $196,000 in fines for tax evasion on Wednesday.

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Louis Vucci, 45, was sentenced on Wednesday, June 17, by U.S. District Judge Vanessa L. Bryant in Hartford.

Vucci failed to report more than $678,000 of income while he was the CEO of Diamond Ranch Foods, the statement from Daly said. 

Vucci underreported his income by $112,310 in 2005, $109,473 in 2006, $174,300 in 2007, $187,704 in 2008, and $95,126 in 2009. 

The unreported income consisted of weekly pay checks from Diamond Ranch Foods in the amount of $2,500 that were made payable to Vucci's spouse, who was not an employee of Diamond Ranch Foods. 

In addition, cash deposits totaling $16,100 in 2008 and $25,020 in 2009 were made into Vucci's personal bank accounts. 

But his federal individual income tax returns reported income of $19,590 in 2005, $12,500 in 2006, $12,000 in 2007, $30,000 in 2008, and $125,202 in 2009. 

The low income reported from 2005 to 2008 qualified Vucci for the earned income credit, yielding refunds rather than taxes owed.

From mid-2005 to mid-2007, Vucci and his spouse rented a home in Greenwich for $8,500 per month, had car expenses in excess of $1,000 per month, and paid a housekeeper for 20 hours per week. 

In 2007, Vucci purchased a house in Ridgefield for $975,000 and continued to make the car payments.

In addition to the prison sentence, Vucci has been ordered to pay back taxes in the amount of $196,425, as well as substantial interest and penalties, Daly said. 

Vucci pleaded guilty Oct. 3, 2013, to one count of tax evasion. He was ordered to report to prison on Sept. 9.

 

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