Jersey Shore Mayor's Son Who Bought $7.6M Worth Of Real Estate Ducked $2M In Taxes, Feds Charge

A Jersey Shore mayor's son who owed the IRS $2 million never paid it -- and instead bought $7.6 million worth of real estate, federal authorities said following his arrest.

Matthew Tucci

Matthew Tucci

Photo Credit: GoogleMaps Street View / FACEBOOK

Matthew Tucci, 51, of West Long Branch, collected $11.4 million in tax refunds from the country of Denmark for pension plans that he'd established there for friends, acquaintances, and relatives, an indictment returned by a grand jury in Trenton says.

Rather than put the money into respective bank accounts that he'd created for the pension plans, Tucci "deposited the funds in five accounts held by five nominee companies he created and controlled," the indictment says.

He then filed federal tax returns for 2015 and 2016 that reported him owing more than $2 million to the IRS "but included no payment with his returns," according to a release from the United States Department of Justice. 

"Instead, Tucci allegedly sought to evade IRS efforts to collect the taxes due," it says.

Tucci -- whose mother is West Long Branch Republican Mayor Janet W. Tucci -- bought more than $7.6 million worth of real estate, the Justice Department release says.

He then "attempted to conceal his ownership of these assets from the IRS by, among other things, transferring title to some of these properties to nominees," it says.

Tucci also "made false statements to the IRS and withheld important facts from the IRS concerning his financial resources and his ability and intent to pay," the release says.

Tucci and another Monmouth County broker were among several people originally charged by federal authorities.

Tucci was arrested on an indictment charging him with tax evasion and obstructing the IRS on Friday, April 5.

IRS Criminal Investigation and the FBI are investigating the case.

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