Last week Ronald Lupica was sentenced to 15 months at ClubFed plus restitution for defrauding ARC, a Connecticut trash company, and not reporting the $1.4 million he and a confederate stole on their tax returns. Besides the $1.4 million owed to ARC, another $249,111 (plus interest) must be paid to the IRS. Just a simple case of fraud and tax evasion, right?
Not exactly. The article in the Connecticut Post notes that ARC’s owner, James Galante, is under indictment on federal racketeering charges. Mr. Galante allegedly got his funding from the Genovese crime family (aka the Mob).
And this all comes from the most benign of ideas: recycling paper. Sometimes good ideas lead to bad results.