A father and son who owned Tony Luke’s Cheesesteak Restaurant were given a 20-month prison sentence for a 10-year conspiracy to trick the IRS.
Popular Philly Cheesesteak Shop Owners Go to Jail for Tax Tricks. (PHOTO: AOL.com)
Tony Luke’s Cheesesteak Owners Face Charges for Hiding $8 Million in Taxes
According to The Fresno Bee, Nicholas Lucidonio (57) and Anthony Lucidonio Sr. (84), Tony Luke’s Cheesesteak owners, are in trouble for money manipulation. Over $8 million was hidden from tax authorities between 2006 and 2016. The owners hid their money by placing just some in company bank accounts and lying to their money person. This caused their accountant to submit phony tax returns that hid their income.
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Paying Some Workers Secretly with Cash
They did something sneaky with the workers. Some received payments “under the table” without formal approval. They failed to collect income tax and Social Security from these workers. When they believed they could be detected, they modified previous tax documents to disguise their actions, which produced huge complications.
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Owners Get 20 Months in Jail and 3 Years Watching
Due to their deception, the owners will serve 20 months in prison and three years of supervision. The country lost almost $1.3 million due to their actions. It shows that money and tax schemes may have major effects.
