- June 24, 2021
- Posted by: Stratford Team
- Category: Business
MIDDLETOWN, NJ — The owner of a construction and demolition business located in Leonardo admitted Wednesday in federal court to evading employment and personal income taxes, Acting U.S. Attorney Rachael Honig announced.
Peter Alvarez, 54, who lives in Atlantic Highlands, pleaded guilty Wednesday before Chief U.S. District Judge Freda Wolfson to one count each of employment tax evasion and personal income tax evasion.
From 2011 to 2016, Alvarez owned and operated Mr. Demo, a construction and demolition business located in the Leonardo section of Middletown. As a business owner, he was required to report to the IRS federal withholding taxes and FICA taxes for all of Mr. Demo’s employees and to pay those taxes on a quarterly basis.
According to the charges, which you can read here, Alvarez cashed numerous checks issued by Mr. Demo’s clients and used the resulting cash, in part, to pay Mr. Demo’s employees.
By using cash to pay Mr. Demo’s employees,…
