Massachusetts Insurance Broker Convicted of Filing False Tax Returns

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2017-05-24

A Dover, Massachusetts, insurance broker was convicted by a federal jury of filing false tax returns, on May 23th, announced Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and Acting U.S. Attorney William D. Weinreb for the District of Massachusetts.

According to the evidence presented at trial, Anthony J. May, 62, owned and operated Clients First Financial Insurance Agency, LLC, through which May sold life insurance products as a broker, and Advantage Life Settlements, LLC, through which he served as a broker for insured individuals looking to sell their personal life insurance policies to third party investors. May operated his businesses out of an office suite in Hingham where he also leased space to other independent insurance agents. May filed false 2008 and 2009 individual income tax returns that did not report $396,554 in income that he received from insurance commissions, broker fees and lease rental payments.

Sentencing is scheduled for Oct. 2, 2017. May faces a statutory maximum sentence of three years in prison on each count as well as a period of supervised release, restitution and monetary penalties.

Source: U.S. Department of Justice

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