Ex-chiropractor admits he evaded paying $500,000 in taxes
LAKEWOOD, N.J. (AP) — A former chiropractor has admitted he evaded paying more than $500,000 in income taxes and failed to report a Russian bank account where he deposited more than $1.5 million.
Federal prosecutors say 57-year-old Carlo Amato owned and operated a Lakewood chiropractor and physical therapy business from 2012-2015. They say he deposited checks for chiropractic services into bank accounts held in the names of his young children and didn’t disclose the payments to his accountants or report them on his tax returns.
Amato pleaded guilty Wednesday to tax evasion and failure to file a report of foreign financial account. He faces up to 15 years in prison when he’s sentenced Jan. 9.