Former Insurance Agent Sentenced For Tax Evasion

BOSTON -- A former insurance salesman was sentenced today in U.S. District Court in Boston for evading taxes in connection with the theft of more than $470,000 that he stole from three clients.

Paul Disidoro, 64, of Georgetown, Mass., was sentenced by U.S. District Judge William G. Young to 18 months in prison, three years of supervised release and restitution of $613,806. In December 2015, Disidoro pleaded guilty to attempting to evade taxes.

For many years, Disidoro operated an insurance business in Massachusetts, and from 2007 through 2010 he also acted as a financial adviser for some clients. During that period, Disidoro stole more than $470,000 from three clients and used the money for his personal benefit, including online gambling. He concealed the income from his tax preparer, and failed to report the embezzled funds on his federal income tax returns. In doing so , Disidoro evaded $144,000 in taxes.

United States Attorney Carmen M. Ortiz; Manny J. Muriel, Acting Special Agent in Charge of the Internal Revenue Service's Criminal Investigation in Boston; and Anthony DiPaolo, Chief of Investigations of the Insurance Fraud Bureau of Massachusetts, made the announcement today. The case was prosecuted by Assistant U.S. Attorney Sandra S. Bower of Ortiz's Economic Crimes Unit.