Dover Insurance Broker Convicted of Tax Fraud

BOSTON -- A Dover, Mass. insurance broker was convicted today by a federal jury in Boston in connection with filing fraudulent personal tax returns.

Anthony J. May, 62, was convicted of two counts of filing false tax returns for 2008 and 2009. U.S. District Court Judge William G. Young scheduled sentencing for Oct. 2, 2017.

May owned and operated Clients First Financial Insurance Agency, LLC, through which he sold life insurance products as a broker, and Advantage Life Settlements, LLC, through which he which served as a broker for insured individuals looking to sell their personal life insurance policies to third party investors. May operated his businesses out of an office suite in Hingham where he also leased space to other independent insurance agents. May filed false 2008 and 2009 individual income tax returns that did not report $396,554 in income that he received from insurance commissions, broker fees and lease rental payments.

The charging statute provides for a sentence of no greater than three years in prison, one year of supervised release and a fine of $250,000. Sentences are imposed by a federal district judge based on the U.S. Sentencing Guidelines and other sentencing factors.

Acting United States Attorney William D. Weinreb; Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department's Tax Division; and Joel P. Garland, Special Agent in Charge of the Internal Revenue Service's Criminal Investigation in Boston, made the announcement today. Assistant U.S. Attorney Victor A. Wild of Weinreb's Economic Crimes Unit and Trial Attorney Eric Powers of the Justice Department's Tax Division are prosecuting the case.