Insurance Broker from Dover Charged with Tax Fraud

DOVER, MA - An insurance broker from Dover filed fraudulent personal tax returns, authorities said.

Anthony J. May, 61, was arrested Wednesday and indicted on two counts of filing false tax returns for tax years 2008 and 2009, according to the U.S. Attorney's office.

According to the indictment, May owned and operated Clients First Financial LLC, a business selling life insurance products, and Advantage Life Settlements, LLC, which served as a broker for individuals to sell their own life insurance policies to third party investors. May allegedly operated his businesses out of an office suite in Hingham where he also rented space to other independent insurance agents. As alleged in the indictment, May failed to report substantial amounts of the gross receipts he received from insurance commissions, life settlement broker fees and business rental income in his 2008 and 2009 tax returns.

May faces up to three years in prison, one year of probation, and a fine of $250,000.

The case is being prosecuted by Assistant U.S. Attorney Victor A. Wild of Ortiz’s Economic Crimes Unit.

Information in this article is from the U.S. Attorney's office. Arrests and charges do not imply conviction.