According to the DoJ, a former employee of Atlantic County Concrete and Material Co. admitted yesterday evading federal income taxes on nearly $700,000 she received in 2008.
Nancy Armienti, 59, of Elmer, N.J., pleaded guilty in U.S. District Court to one count of tax evasion.
According to documents filed in this case and statements made in court:
During 2008, Armienti took $589,947 from her employer through cash withdrawals and payments to QVC for items she ordered. Armienti created false business expense records to conceal her receipt of these funds and instructed the company’s bookkeeper to record the cash withdrawals and QVC payments as business expenses. Armienti failed to file a 2008 federal income tax return and failed to pay the IRS the income tax due on the $682,129 in total income she received in 2008.
The tax evasion charge to which Armienti pleaded guilty carries a maximum potential penalty of five years in prison and a $250,000 fine, or twice the gain or loss caused by the offense. Sentencing is currently scheduled for April 23, 2013.
It is unclear at this time if she will be allowed to pay the fine in five easy installments on Easy Pay.