St. Charles man sentenced to 9 months in prison for tax fraud
Posted February 21, 2023 12:00 am
A St. Charles man was sentenced to nine months in prison and ordered to pay more than $3.3 million in restitution after pleading guilty to federal tax fraud charges.
Edward T. Arnieri, 71, pleaded guilty in June to withholding $3.9 million in employee payroll taxes from the Internal Revenue Service as the president and sole owner of Lane Tool & Manufacturing Co. in South Elgin.
Prosecutors said Arnieri issued employees W-2 forms and paychecks for roughly eight years that falsely indicated income and payroll taxes had been withheld from their wages.
The deception was uncovered in 2018, according to court records.
Arnieri was facing up to five years in prison.
Arnieri is expected to report to prison by September 2023, according to court records.
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