Morganville Man Sentenced For Tax Evasion

MORGANVILLE, NJ — A Morganville man was sentenced Thursday to 18 months in prison for committing tax evasion and bankruptcy fraud while operating his wine delivery business, U.S. Attorney Craig Carpenito announced.

Giacomo Giorlando, 54, of Morganville, previously pleaded guilty before U.S. District Judge Peter G. Sheridan to an information charging him with three counts of tax evasion and one count of bankruptcy fraud.

Federal prosecutors say that, as an owner of 4 G’s Trucking, Giorlando comingled business revenue with his personal funds, utilized a check-casher to cash business checks, deposited the proceeds of his business into various bank accounts, and then significantly inflated expenses to reduce his taxable income for the years 2011, 2012 and 2014. He admitted he was responsible for a $460,012 tax loss from those three years.

When Giorlando filed for bankruptcy in May 2014, he failed to accurately report his assets from at least 10 accounts at TD Bank and one account at Provident Bank that he maintained during the time frame covered by the bankruptcy. The bankruptcy was approved based upon this false and incomplete information. He was discharged on March 13, 2015.

In addition to the prison term, Judge Sheridan sentenced Giorlando to three years of supervised release and ordered him to pay $750,000 in restitution to the IRS and $65,000 to victims of the fraud.