Tags: mancomanco | pizza | owners | indicted | tax | evasion

Manco & Manco Pizza Owners Indicted on Tax Evasion Charges

By Clyde Hughes   |   Friday, 04 Apr 2014 01:19 PM

Charles and Mary Bangle, the owners of Ocean City boardwalk fixture Manco & Manco Pizza, were slapped Thursday with a 30-count indictment charging the couple with conspiracy to evade income taxes, income tax evasion and making false statements to the Internal Revenue Service.

Authorities arrested the Bangles at their home in Somers Point, N.J., on the charges spanning 2007 to 2011, U.S. attorney Paul J. Fishman told the South Jersey Times. Fishman saidt Charles Bangle also faces 23 counts that he structured financial transactions to dodge reporting responsibilities.

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The indictment charged that the Bangles skimmed sizeable sums of money from their business and Charles Bangle would deposit it into personal bank accounts with deposits of less than $10,000 to purposefully avoid currency transaction reports from its banks.

The couple is accused of hiding as much as $981,000 in income from the IRS. The Bangles would have owed $336,273 of additional income taxes if reported, the U.S. Attorney's office told the newspaper.

KYW-TV reported that the Bangles told authorities that the deposits were cash salaries they earned from the business.

"For nearly two years, Mr. Bangle, through counsel, has cooperated with the government's investigation into alleged violations of tax law," the Bangles' attorneys said in a statement Thursday.

"For that reason, today's arrests came as a shock. Mr. and Mrs. Bangle intend to vigorously defend themselves in court against these charges. They look forward to presenting defenses at the appropriate judicial proceedings and to the opportunity to have their side of the story heard. In keeping with court rules, we are withholding further comment at this time," the attorney told the TV station.

The couple was released on unsecured bonds. They will appear in court again April 14 for an arraignment, repiorted KYM-TV. The South Jersey Times reported that each count carries a maximum of five years in prison and a $250,000 fine.

The pizza chain, originally known as Mack and Manco, has been an Ocean City boardwalk fixture since the 1950s, but the arrests could put it in jeopardy.

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