A New Jersey doctor who admitted filing false tax returns and structuring cash transactions in order to avoid federal reporting requirements has been sentenced to nearly four years in prison.
Federal prosecutors say Paul DiLorenzo, of Ocean Township, also will forfeit nearly $1 million in illegally derived proceeds and must pay $304,293 in restitution to the IRS under the sentence imposed Friday.
Between 2009 and June 2012, DiLorenzo received more than $2 million in cash payments from patients. During that time, he deposited $1 million in cash into banks accounts in his name and in the name of his business.
The deposits included 150 separate transactions, all but one for less than $10,000. He admitted he structured the transactions that way so he wouldn't have to report them.
Doctor Sentenced for Filing False Tax Returns
Copyright AP - Associated Press
