Massachusetts Insurance Broker Convicted of Filing False Tax Returns

Tuesday, May 23, 2017

Massachusetts Insurance Broker Convicted of Filing False Tax Returns

A Dover, Massachusetts, insurance broker was convicted today by a federal jury of filing false tax returns, announced Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department's Tax Division and Acting U.S. Attorney William D. Weinreb for the District of Massachusetts.

According to the evidence presented at trial, Anthony J. May, 62, owned and operated Clients First Financial Insurance Agency, LLC, through which May sold life insurance products as a broker, and Advantage Life Settlements, LLC, through which he 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.

Sentencing is scheduled for Oct. 2, 2017. May faces a statutory maximum sentence of three years in prison on each count as well as a period of supervised release, restitution and monetary penalties.

Acting Deputy Assistant Attorney General Goldberg and Acting U.S. Attorney Weinreb thanked special agents of the Internal Revenue Service-Criminal Investigation, who conducted the investigation, and Assistant U.S. Attorney Victor A. Wild and Trial Attorney Eric Powers of the Tax Division, who are prosecuting the case.

Additional information about the Tax Division and its enforcement efforts may be found on the division's website (http://www.doj.gov/tax).

Topic(s):

Tax

Component(s):

Tax Division (http://www.justice.gov/tax/)

DOJ - USAO

Press Release Number:

17-563

Updated May 23, 2017