Find Your Daily Voice
45°
Landmark Paterson Restaurant Owners Go To Federal Prison For Ducking $240,000 In Taxes
The former owners of a landmark Italian restaurant in Paterson were each sentenced to six months in federal prison Tuesday for cheating the U.S. government out of more than $240,000 in taxes by concealing income from their cash-only business.
Elio Federico, 71, of Totowa, and his brother, Ralph Federico, 68, of Saddle Brook, also must remain under supervised release for a year and pay $160,000 in fines each.
The brothers operated the more-than-50-year-old E&V Restaurant on a cash-only basis, paid a "substantial portion" of the employee payroll in cash, and paid "virtually…
Landmark Paterson Restaurant Owners Admit Ducking $240,000 In Taxes
The former owners of a landmark Italian restaurant in Paterson admitted Wednesday that they cheated the U.S. government out of more than $240,000 in taxes by concealing income from their cash-only business through various methods.
Elio Federico, 71, of Totowa, and his brother, Ralph Federico, 68, of Saddle Brook, each pleaded guilty in federal court in Newark to a single count of tax evasion.
Elio and Ralph Federico operated the more-than-50-year-old E&V Restaurant on a cash-only basis, paid a "substantial portion" of the employee payroll in cash, and paid "virtually all …
