Unmasking Financial Fraud: Claudio Poles Charged for Tax Evasion and Buying Precious Metals

Joshua S. Levy, the U.S. Attorney for Massachusetts, announced that Claudio Poles of Dorchester, a 78-year-old co-owner of a Mattapan plumbing and heating company, was charged with four counts of filing false tax returns. According to the allegations, Poles used unreported money to purchase over $10 million in gold and silver bars for himself.

The investigation revealed that between 2019 and 2022, Poles did not accurately disclose his company’s gross business receipts to his tax preparer, who then submitted false tax returns on behalf of the company. This allowed Poles to buy the precious metals using the unreported money, covering the purchases under false descriptions like “Boilers,” “Materials,” and “P&H Supp” on business checks to conceal the transactions.

Prosecutors also claimed that Poles fraudulently reported losses in his individual tax returns while omitting the income he received from purchasing the precious metals through his business. Filing a false tax return is a serious offense that can lead to a prison sentence of up to three years, as per the U.S. Attorney’s office guidelines. The investigation and charges against Poles shed light on the consequences of tax fraud and the legal actions that can be taken against individuals who engage in such schemes.

The investigation also brought attention to how some individuals use their companies as fronts for illegal activities such as buying precious metals using unreported funds or other illicit means.

Overall, this case serves as a reminder that engaging in financial crimes such as filing false tax returns can have severe consequences and should be avoided at all costs.