Local Donut Shop in New York Conceal 1 Million Dollars From the IRS
The IRS uncovered more was happening in this New York donut shop than selling donuts.
By Xochitl Bott, Marketing –
In the United States, donuts are a sweet tooth for many people. They are found everywhere, from the grocery store to coffee shops. But one donut shop placed their sights on something more valuable than donuts. In Central New York, there is a line of donut shops called Dippin Donuts, owned by John and Helen Zourdos. For five years the Zourdos, along with their son Dimitrios, pocketed more than one million dollars instead of filing them on their tax returns.
Between 2013 and 2017, these three individuals transferred all this money in cash to evade the notice of the IRS. Instead of depositing the money earned from their shops to their business’s bank accounts, they deposited it into their personal bank accounts. When it was time to file tax returns for themselves and their company, they provided false information on the tax returns and in turn sent false tax returns to the IRS. But this spread throughout the company. Some employees were paid their salaries “off the books” in cash instead of being directly deposited into their bank accounts. This is considered employment tax fraud.
This investigation by the Internal Revenue Service-Criminal Investigation has brought to light a serious fraud happening in New York. The Zourdos are being charged with multiple accounts of conspiring to defraud the IRS, doing tax evasion and helping with the filing of false tax returns. They all face at least 13 years in prison, along with three years of supervised release and penalties. They have not plead guilty as of now.
Throughout the United States and the world, there are people committing this same fraud. They are stealing valuable earnings and taking it as their own from their own companies. They can vary from common employees to CEOs. When greed takes a hold of someone’s heart, it’s very hard to get rid of. But there is a way to make sure greed doesn’t tempt employees and to make sure they stay honest, called EyeDetect®. EyeDetect is a new lie detector that is being used by government entities and companies around the world. Instead of a polygraph test, people only need to take a test on a computer and their eyes will be studied. Why the eyes? Researchers have found out that the eyes have involuntary movements when someone lies, and those movements are studied. In only 30 minutes companies can know who is lying on a variety of topics, from fraud to drug abuse, and have better trust in their employees.
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