BOSTON - A Nahant man was charged yesterday in U.S. District Court in connection with failing to report a significant portion of his income on his federal tax returns from 2010 to 2013.
Andrew R. Bisignani, 70, was charged in an Information with four counts of filing false tax returns.
The Information alleges that, between 2010, 2011, 2012 and 2013, Bisignani collected rental income from three real properties in Revere, Mass. During the same years, Bisignani allegedly collected interest and loan income by making multiple, private, short-term loans which were secured by Massachusetts real estate. Bisignani allegedly underreported his total rental real estate income when submitting his individual tax returns to the IRS. He also underreported the interest income he received in connection with his private loans for 2010, 2011 and 2012.
The charging statute provides for a sentence of no greater than three years in prison, one year of supervised release and a fine of $100,000. Actual sentences for federal crimes are typically less than maximum penalties. Sentences are imposed by a federal district court judge based on the U.S. Sentencing Guidelines and other statutory factors.
United States Attorney Carmen M. Ortiz and Joel P. Garland, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigations in Boston, made the announcement today. Assistant U.S. Attorney Kristina E. Barclay of Ortiz’s Public Corruption Unit is prosecuting the case.
The details contained in the Information are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
Source: U.S. Department of Justice, Office of the United States Attorneys
