BOSTON — A Quincy man who owned a local temporary employment agency is accused of filing false tax returns on behalf of his company that hid over $10 million in corporate income.
Su Nguyen, 60, was arrested and charged with aiding and assisting the filing of false tax returns, Acting U.S. Attorney Josh Levy said in a statement on Tuesday. Nguyen was released on conditions following an initial appearance in federal court in Boston Monday afternoon before U.S. District Court Magistrate Judge M. Page Kelley.
According to the charging documents, between 2016 and 2020, Nguyen was the owner of General Employment Services, a temporary employment agency in Massachusetts. Clients paid the company by check for the work performed by GES employees.
Nguyen deposited a small number of client checks in a bank account that Nguyen used for GES business and reported that income to the IRS, according to the charging documents. However, Nguyen allegedly cashed the majority of client checks at a check casher in Worcester and used that cash on himself and to pay some employees’ wages.
Prosecutors allege that in total, Nguyen cashed over $10 million in client checks and did not report that income or the wages paid in cash to the IRS. By doing so, Nguyen and his company failed to pay over $2 million in taxes.
Each count of aiding and assisting the filing of false tax returns provides for a sentence of up to three years in prison, up to one year of supervised release and a fine of up to $250,000.
This is a developing story. Check back for updates as more information becomes available.
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