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11th of May 2005
A multi-millionaire was sentenced to 2 months of jail for evading $1 million in taxes. He used this money for paying off his casino debts and home expenses. Now he must serve out his term and then spend 6 months in a halfway house and a year under house arrest. Additionally, he must pay the fine of $25,000.
Edward Petrucci can be considered a gambling addict – he spent more than $1.5 million on gambling in 1996-1999. Moreover, about $12 million went to casinos during 1996-2005.But this is not a crime He is accused of that he didn’t declare these millions when he paid the taxes in 1996-1999. He also concealed his expenditures of about $660,000 on home furniture and improvements.
Simultaneously, he made a lot of charitable donations and altruistic gifts, which decreased his sentence a little. The other reason is that his presence is essential for his business.
Now he won’t be able to get money without a special attendant who will co-sign all his checks, and of course he won’t gamble and will treat his addiction.
Source: Staff writer
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