Monday, July 4, 2011

ACCOUNTANT SCAMMED: Accountant gets prison time for pocketing taxes - Atlantic City Press

As the majority owner of a Montale accounting firm, Barry S. Malkin knew he was courting trouble with Uncle Sam when he pocketed payroll taxes withheld from his employees - to give money to a woman in Costa Rica who lured him in with a tale.

The woman initially sought help to pay fees to recover a large inheritance, promising a quick return on Malkin's investment, with interest. Then she was stricken with cancer and needed help to pay her medical bills. Over 14 years, Malkin, 69, of Upper Saddle River, a certified public accountant who had never run afoul of the law, shelled out more than $1 million.

He never got a cent back. Instead, on Wednesday, he got a sentence of prison time from a federal judge perplexed by Malkin's behavior.

Source: http://www.pressofatlanticcity.com/news/press/new_jersey/accountant-scammed-accountant-gets-prison-time-for-pocketing-taxes/article_cb6dc49c-a308-11e0-9012-001cc4c002e0.html

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