Parlato's scheme, according to the announcement, included assisting dealers and buyers in misallocating supercars "to customers who were not on the list of approved purchasers" via kickbacks, otherwise known as bribes. But that wasn't all.
"Parlato admitted that he failed to report the $2.8 million in kickback payments he received as income on his federal individual income tax returns," the announcement said. "Parlato also admitted that he attempted to hide some of these funds from the IRS by depositing them in a bank account in Spain and failing to disclose the existence of that bank account. Parlato admitted that he avoided paying more than $1.1 million in taxes.
Company A, the release went on, makes very limited-run cars, and Parlato "had some measure of authority over the allocations of those limited edition automobiles." Company A said it was launching a "supercar" in 2013 and that it would only make 500 examples. Each would be priced at $1.4 million MSRP, and buyers had to be on an approved list in order to buy said car.
Though neither the release nor the court documents specifically name Company A or Company B, Maranello, Italy, is famously the home of luxury Italian automaker Ferrari. Ferrari North America is based in Englewood Cliffs, New Jersey. The unnamed "supercar" certainly matches the description of the Ferrari LaFerrari, which was launched in 2013 and
Why does the rich people dodge paying taxes while the poor ones go to jail if they refuse to pay taxes?
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »