Back to the Genovese crime family section on Gangsters Inc.Much of the money is untraceable, prosecutors say.ĭeMeo was released on $2 million bond and faces 41 months behind bars if convicted. He put $1 million into the account of a plumbing business that was run by another Genovese family mobster. Hoping to hold on to as much cash as possible, he tried to hide it from the IRS by cutting up his proceeds into smaller portions and stuffing the money into other people’s accounts. He inherited two pieces property in Brooklyn from his father and sold off all his shares. Prosecutors said Demeo turned a 2 million profit in 20 by selling shares of downtown Brooklyn properties he inherited from his father in 1991 but he didn't report the capital gains windfall. Prosecutors claim he failed to report $2 million in capital gains and stiffed the government out of $367,000 in taxes. Reputed Genovese soldier Sal (Sallie) Demeo pleaded guilty to attempted tax evasion Monday in Brooklyn Federal Court. On October 12, DeMeo was charged with tax evasion. But authorities, apparently, weren’t quite done with the aging goodfella. A pretty sweet deal for such a longtime gangster.
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