Owners of iconic Philly cheesesteak shop sentenced to prison for tax fraud

[Nitt1300]

rut roh:

Two owners of an iconic Philly cheesesteak shop were sentenced to prison for tax fraud Thursday.

Nicholas Lucidonio, 57, and Anthony Lucidonio Sr., 84, who owned and operated Tony Luke’s, a cheesesteak restaurant in South Philadelphia, have both been sentenced to 20 months in prison for “their decade-long conspiracy to defraud the IRS,” according to a press release from the Department of Justice (DOJ).

more:Owners of iconic Philly cheesesteak shop sentenced to prison for tax fraud (yahoo.com)

 

[Connorpozlee]

rut roh:

Two owners of an iconic Philly cheesesteak shop were sentenced to prison for tax fraud Thursday.

Nicholas Lucidonio, 57, and Anthony Lucidonio Sr., 84, who owned and operated Tony Luke’s, a cheesesteak restaurant in South Philadelphia, have both been sentenced to 20 months in prison for “their decade-long conspiracy to defraud the IRS,” according to a press release from the Department of Justice (DOJ).

more:Owners of iconic Philly cheesesteak shop sentenced to prison for tax fraud (yahoo.com)

Wit parole or witout?

 

[PSU87]

rut roh:

Two owners of an iconic Philly cheesesteak shop were sentenced to prison for tax fraud Thursday.

Nicholas Lucidonio, 57, and Anthony Lucidonio Sr., 84, who owned and operated Tony Luke’s, a cheesesteak restaurant in South Philadelphia, have both been sentenced to 20 months in prison for “their decade-long conspiracy to defraud the IRS,” according to a press release from the Department of Justice (DOJ).

more:Owners of iconic Philly cheesesteak shop sentenced to prison for tax fraud (yahoo.com)

Sharing a cell with the pizza guy from the Ocean City boardwalk....Mack of Mack n Mancos.

I guess the temptation is high when a lot of your business is cash

 

[Grant Green]

Wit parole or witout?

Well played.

 

[manatree]

“The Lucidonios also committed employment tax fraud by paying employees ‘off the books’ in cash,” the release read. “To evade detection, they paid most employees a portion of their wages ‘on the books.’”

Wonder how many of those employees reported their cash earnings?

 

[Nitt1300]

Wonder how many of those employees reported their cash earnings?

People working in that industry don't have much incentive to rat out their employers.

 

[MrTailgate]

Wit parole or witout?

This was the post of the day without any serious challenge. i tip my hat to you.

 

[Mr. Potter]

It's only Steve Prince of Steaks for me.

 

[Erial_Lion]

Wonder how many of those employees reported their cash earnings?

Whatever it’s set at, I’ll take the under

 

[Midnighter]

Man, 84 years old? Probably won’t make it out.

 

[SleepyLion]

Man, 84 years old? Probably won’t make it out.

...might not make it in.

 

[NittPicker]

As a dispute between the Lucidonios and somebody else began, they became worried about their tax fraud scheme coming to light, per the release. Because of their fears, they “directed that the prior year’s tax returns be amended to increase reported sales.”

Sounds like someone was pissed off and threatened to rat them out then they tried to cover their tracks afterward. I'm guessing what they did is par for the course with restaurants which mostly deal in cash. Any guesses on how much revenue is hidden by the mom and pop ice cream joint which is only open during the summer?? Or the local Chinese take out place?? Family run places like that keep the secret. Rule #1 - don't piss off outsiders who know you're cooking the books.

 

[MtNittany]

Not sure what prison time accomplishes in cases like this - at his age. How about a much larger fine instead? Maybe give his cell space to someone who needs it a bit more.

 

[Jason1743]

Wit parole or witout?

Wit peppers and hot sauce.

 

[Nitt1300]

Not sure what prison time accomplishes in cases like this - at his age. How about a much larger fine instead? Maybe give his cell space to someone who needs it a bit more.

sends a message to the next cheat

 

[MtNittany]

sends a message to the next cheat

Meanwhile, what messages are being sent to the repeat car jackers and thieves? This will be my last comment on this thread.

 

[19333lion]

sends a message to the next cheat

A lot of those messages in the past few years.

 

[Nitt1300]

Meanwhile, what messages are being sent to the repeat car jackers and thieves? This will be my last comment on this thread.

not sure what one has to do with the other

 

[Keyser Soze 16802]

Not sure what prison time accomplishes in cases like this - at his age. How about a much larger fine instead? Maybe give his cell space to someone who needs it a bit more.

Agreed. Putting non-violent criminals in jail in general has never made sense to me. Costs society money that could be better spent elsewhere. Put them on house arrest and make them do public service, including picking up trash in the hot, the cold, the rain, etc.

 

[manatree]

Any guesses on how much revenue is hidden by the mom and pop ice cream joint which is only open during the summer?? Or the local Chinese take out place?? Family run places like that keep the secret. Rule #1 - don't piss off outsiders who know you're cooking the books.

There’s a book, The Fortune Cookie Chronicles, which is about the history of Chinese food in America. One chapter goes into the inside process that most Chinese restaurants are sold. One prospective buyer was suspicious that the owners of a restaurant were inflating the numbers that they were showing him in order to jack up the sale price. The guy tracked down their garbage man to see how much garbage was being generated by the restaurant. He decided that the restaurant was not generating enough garbage to match the alleged cash flow.

 

[s1uggo72]

There’s a book, The Fortune Cookie Chronicles, which is about the history of Chinese food in America. One chapter goes into the inside process that most Chinese restaurants are sold. One prospective buyer was suspicious that the owners of a restaurant were inflating the numbers that they were showing him in order to jack up the sale price. The guy tracked down their garbage man to see how much garbage was being generated by the restaurant. He decided that the restaurant was not generating enough garbage to match the alleged cash flow.

I m surprised any Chinese restaurant has a garbage dumpster!

 

[Lion84]

Agreed. Putting non-violent criminals in jail in general has never made sense to me. Costs society money that could be better spent elsewhere. Put them on house arrest and make them do public service, including picking up trash in the hot, the cold, the rain, etc.

I think it depends - some of these white collar criminals have destroyed more lives than you average car jacker - watch American Greed and that Crypto documentary on Netflix - these scumbags get off way easy and shouldn’t.

 

[PSUSignore]

Wit parole or witout?

 

[Nitt1300]

Agreed. Putting non-violent criminals in jail in general has never made sense to me. Costs society money that could be better spent elsewhere. Put them on house arrest and make them do public service, including picking up trash in the hot, the cold, the rain, etc.

I'm in favor of that for things like littering or texting while driving- but felons belong in prison.

 

[DaytonRickster]

Wit parole or witout?

LOL.

 

[PSUAVLNC]

I think it depends - some of these white collar criminals have destroyed more lives than you average car jacker - watch American Greed and that Crypto documentary on Netflix - these scumbags get off way easy and shouldn’t.

But this ain’t crypto or anything close. We’re talking cheesesteak fraud!! What a waste of taxpayer dollars. Fight back, always tip in cash!!!!!

 

[GrimReaper]

But this ain’t crypto or anything close. We’re talking cheesesteak fraud!! What a waste of taxpayer dollars. Fight back, always tip in cash!!!!!

Maybe they can share a cell with Bankman-Fried. They can certainly bring enough lube with them.

 

[Keyser Soze 16802]

I think it depends - some of these white collar criminals have destroyed more lives than you average car jacker - watch American Greed and that Crypto documentary on Netflix - these scumbags get off way easy and shouldn’t.

I agree, I was thinking more in terms of people like Marta Stewart and Curley/Schultz/Spanier

 

[JohnJumba]

Wasn't that shop on a Food Network show?