A Dorchester, MA resident, Claudio Poles, co-owner of a Mattapan plumbing and heating supply company, pleaded guilty to filing false tax returns involving $10 million in unreported business receipts used to buy gold bars, according to Acting United States Attorney Joshua Levy’s office.
Poles, 78, admitted to four counts of filing false tax returns and was charged on April 30. U.S. District Court Judge Indira Talwani scheduled his sentencing for August 9.
Between 2019 and 2022, Poles falsely reported losses on his tax returns and omitted personal income from the business, instead purchasing over $10 million in gold and silver bars. He hid these purchases by falsely documenting them as equipment expenses for the company. This scheme led to about $3 million in tax losses for the IRS.
The charge of filing false tax returns carries a potential sentence of up to three years in prison, one year of supervised release, and a $250,000 fine.
