Wednesday, November 09, 2005

Monsey/Passaic man sentenced

Journal News:

The owner of a Monsey payroll tax service has been sentenced to 37 months in federal prison for stealing more than $2 million from his clients and then gambling the pilfered funds away in the stock market.
Menachem Hirsch, 36, of Clifton, N.J., stole the money from clients of PAL Data Processing, the business he ran out of his father's home.
In addition to losing money in the stock market, Hirsch paid off the mortgage on his home.
Hirsch pleaded guilty in December in U.S. District Court in White Plains to tax evasion and wire fraud and he was sentenced Monday by Judge Stephen C. Robinson.
Hirsch admitted to preparing false tax returns for dozens of corporate and municipal clients in Rockland and Orange counties, New York City and New Jersey. In the tax returns sent to the IRS, he underreported and underpaid the payroll taxes the clients owed, including Medicare and Social Security taxes. To cover his tracks, federal prosecutors said, Hirsch sent clients separate tax returns with the correct amounts entered.
The New Jersey man illegally dipped into the bank accounts of such clients as the Yeshiva of Spring Valley, the village of Kiryas Joel, American Shelter Corp. and Pediatric Associates to bankroll his stock-market bets. Prosecutors said he filed more than 160 fraudulent tax returns between 1998 and 2000.
posted by Yeshiva Orthodoxy
at 2:19 PM

1 Comments:

Anonymous Anonymous said...

Is his wife an agunah or is that a different Menachem Hirsch?

12:57 PM  

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