BRIEF: Hingham insurance agent jailed for tax fraud

Jan. 27--HINGHAM -- A local insurance broker will spend eight months in jail after failing to report nearly $400,000 in income.

Anthony J. May, 62, who lives in Dover, was sentenced by U.S. District Court Judge William G. Young on Thursday to eight months in prison and one year of supervised release, according to the office of Massachusetts U.S. Attorney Andrew E. Lelling.

May operated Clients First Financial and Advantage Life Settlements in Hingham from a Sharp Street office suite where he also leased space to other independent insurance agents.

A federal jury convicted May last April of two counts of filing false tax returns failing to report "substantial amounts" of commissions, broker fees and business rental income on his 2008 and 2009 personal tax returns. This unreported income totaled $396,554 over those two years.

May was indicted by a federal grand jury in April 2016 and arrested by Internal Revenue Service agents at his office. The case was prosecuted by then-U.S. Attorney Carmen Ortiz's economic crimes unit.

A former MetLife agent, he sold life insurance policies through Clients First, while he brokered the selling of policies to third-party investors through Advantage Life.

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