Business Owner Charged with Tax Evasion
In a significant development reported by U.S. Attorney for New Jersey Philip Sellinger, John Constantino, a 67-year-old resident of Ridgewood, is facing charges for evading a substantial amount of taxes. Constantino, the sole owner and president of a fireproofing and painting business, is accused of concealing his income and assets, resulting in a shortfall of $682,735 in corporate and personal income taxes.
The evasion tactics employed by Constantino were multifaceted. According to the indictment, he used a false address on his driver’s license and transferred assets into another individual’s name. This subterfuge spanned from January 9, 2015, to March 26, 2024. Furthermore, the indictment details how Constantino paid company expenses in cash, including labor, supplies, and materials. He also cashed checks worth approximately $13 million at a check-cashing facility and structured cash deposits to avoid detection by the U.S. Department of Treasury.
Despite the company’s taxable income being over $3 million and Constantino’s personal taxable income nearing $642,000 from 2017 to 2022, he failed to file the required personal form 1040 or business form 1120 with the IRS for each of those years. This deliberate omission led to the evasion of significant tax liabilities.
The case against Constantino was meticulously built by special agents from IRS-Criminal Investigation. He now faces an 18-count indictment that includes six counts of tax evasion and twelve counts of failing to file tax returns. Assistant U.S. Attorney Rachelle M. Navarro from Sellinger’s Organized Crime and Gangs Unit in Newark was instrumental in securing the indictment.
As the legal proceedings unfold, the business community is reminded of the serious consequences of tax evasion. This case serves as a cautionary tale for those who might consider circumventing their fiscal responsibilities.
