MARGATE – A Margate man has admitted to charges of income tax evasion after failing to pay taxes on money he embezzled from his business, announced US Attorney Craig Carpentino announced.
Barry Markman, 62, recently pleaded guilty to one count of evasion of income tax.
According to documents filed in this case and statements made in court, Markman was one of the owners of a company that sold and installed shutters, shades and blinds to retail customers as well as wholesale customers, using various other trade names.
Markman admitted to depositing checks from customers into his personal bank account between 2012 and 2016. He later used those funds to gamble. During this time, Markman also substantially underreported his income. He failed to include the $618,002 he received directly from the company’s customers on his income tax returns, owing an additional tax of $170,704 to the United States.
Markman faces a maximum potential penalty of five years in prison and a $250,000 fine. Sentencing is scheduled for Dec. 6, 2019.
