Tags: the situation | jersey shore | tax | fraud

'The Situation' of 'Jersey Shore' Fame Is in $9M Tax Fraud Jam

By    |   Thursday, 25 Sep 2014 08:45 AM

Mike "The Situation" Sorrentino, star of MTV's reality TV hit "Jersey Shore," and his brother Marc pleaded not guilty in federal court this week to multiple indictments for tax fraud.

"Most individuals file truthful tax returns and pay their fair share of taxes," explained Jonathan D. Larsen, Acting Special Agent in Charge, IRS-Criminal Investigation, according to Forbes.

"However, as alleged in today’s indictment, rather than living in reality and reporting their true income, Michael Sorrentino and his brother Marc created the illusion that they earned less income by filing false and fraudulent tax returns. No matter what your occupation or status in life, if you attempt to cheat on your taxes for personal financial gain, you face real consequences including criminal prosecution and a possible prison sentence."

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On Wednesday, appearing in court together to explain two S corporations they set up – MPS Entertainment LLC and Situation Nation Inc. – the brothers and their lawyer, Richard Sapinski, pleaded not guilty to two counts of conspiracy to defraud the United States, multiple counts of filing false tax returns, and one count of failing to file a tax return.

In a nutshell, they stand accused of improperly using the S corporations as tax shields for their personal income, and not paying taxes on roughly $9 million.

"According to the indictment, Michael and Marc Sorrentino filed false tax returns that incorrectly reported millions made from promotions and appearances," said U.S. Attorney Paul J. Fishman.

"The brothers allegedly also claimed costly clothes and cars as business expenses and funneled company money into personal accounts. The law is absolutely clear: telling the truth to the IRS is not optional."

The conspiracy counts facing both brothers could land them up to five years in prison and a $250,000 fine. The other counts carry up to three years and up to one year in prison, as well as fines.

Mike is out on a $250,000 bail until his arraignment on October 6, 2014. Conditions of his bail include being subject to random drug testing and being prohibited from drinking any alcohol.

After his trial appearance, Sorrentino posted a quote on Instagram that seemed to admit a little bit of guilt. He was also harassed by reporters from TMZ on his way out of the courthouse.



 


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Mike "The Situation" Sorrentino, star of MTV's reality TV hit "Jersey Shore," and his brother Marc pled not guilty in federal court this week to multiple indictments for tax fraud.
the situation, jersey shore, tax, fraud
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2014-45-25
Thursday, 25 Sep 2014 08:45 AM
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