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Restaurant Owner from Franklin Lakes Admits Tax Fraud, Authorities Say

Owner of Villa Amalfi cost the government $166K, officials said.

A restaurant owner from Franklin Lakes was one of two men who admitted scamming to government out of more than $280,000 in taxes, IRS Acting Special Agent in Charge Jonathan D. Larsen announced in a release Thursday.

According to the release, the two owners of Villa Amalfi in Cliffside Park pleaded guilty to filing false tax returns.

Nicola Esposito, 59, of Franklin Lakes, and Giovanni Esposito, 62, of Mahwah, admitted to filing false documents in the mid-2000s, authorities said.

Nciola admitted to improperly filing his own personal income tax, and payroll taxes at the restaurant, the release said. His misreporting cost the government $166,967.20 in taxes over four years, it said.

Giovanni admitted filing false personal income tax returns, which caused a tax loss of $116,534, it said.

The two are set to be sentenced in September, officials said. They face up to three years in prison and fines equal to double the amount of money they gained from the false reports, authorities said.

thomas ela May 11, 2014 at 09:36 AM
cost the government?? Too bad we can't audit the government on what they cost us....

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