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Peter Alvarez, 54, of Atlantic Highlands didn’t report income from clients’ checks that he cashed and then used, in part, to pay employees at Mr. Demo, a construction and demolition business that he owned and operated in Leonardo, Acting U.S. Attorney Rachael A. Honig said.
Rather than face a trial, Alvarez took a deal from federal prosecutors.
In exchange for leniency, the Middletown native pleaded guilty to evading employment and personal income taxes via videoconference with Chief U.S. District Judge Freda L. Wolfson in Trenton.
The plea requires him to make full $609,668 restitution to the IRS, Honig said.
Wolfson scheduled sentencing for Oct. 28.
Honig credited special agents of IRS-Criminal Investigation and special agents of the FBI with the investigation leading to the plea, secured by Assistant U.S. Attorneys J Fortier Imbert and Sara F. Merin of her Special Prosecutions Division in Newark.
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