PHOENIX – LAWFUEL – Tax & Business Law News – Jeffrey A. Meranto, 51, of Phoenix, Arizona, pleaded guilty to one count of
Subscribing to a False Return and one count of Engaging in Monetary Transactions in Property
Derived from Specified Unlawful Activities.
Meranto agreed with the facts stated in the Indictment that around October 19, 2000, he signed a 1998 calendar year tax return and submitted it to the IRS stating his total income for that year was $9,372.00 when in fact he knew he had actually earned $66,797.26. Meranto also acknowledged that around June 19, 2000 he transferred $46,000 in the form of a check written on his account for A-1 Motorsports to First American Title Insurance Co.
Meranto admitted these were the unlawful proceeds from the possession of marijuana for sale. He also indicated the check was used in the purchase of land located at 28000 N. 128th Street in Scottsdale, Arizona.
A conviction for Subscribing to a False Return carries a maximum penalty of three years, a $100,000 fine or both. A conviction for Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activities carries a maximum penalty of ten years a maximum fine of $250,000 or both. In determining an actual sentence, Judge Teilborg will consult the U.S. Sentencing Guidelines, which provide appropriate sentencing ranges. The judge, however, is not bound by those guidelines in determining a sentence.
The investigation preceding the indictment was conducted by special agents of Internal Revenue Service Criminal Investigation and the U.S. Drug Enforcement Administration. The prosecution is being handled by Michelle Hamilton-Burns, Assistant U.S. Attorney, District of Arizona, Phoenix.
CASE NUMBER: CR-05-0447-PHX-JAT
RELEASE NUMBER: 2006-179(Meranto)