WESTCHESTER COUNTY, N.Y. - A Westchester County accountant is facing prison time after pleading guilty to a multi-million dollar tax fraud scheme.
On Wednesday, Joon Kim, the acting United States Attorney for the Southern District of New York announced that 63-year-old Joseph Cervone, who is a certified public accountant based out of White Plains, pleaded guilty to a $23 million scheme that benefitted his clients.
According to Kim, from 2009 to 2012, Cervone obstructed and impeded the Internal Revenue Service by filing false tax returns claiming more than $23 million of energy and coal credits in an effort to obtain tax refunds. Cervone also filed false tax returns during that time, failing to report more than $500,000 in income, Kim noted.
Cervone has pleaded guilty to one count of endeavoring to obstruct and impede the due administration of the internal revenue laws and one count of subscribing to false tax returns. Cervone is due back in court on Thursday, June 29, where he faces up to three years in prison on each charge.