Holmdel Exec Pleads Guilty To Tax Evasion

A New York telecommunications business operator who lives in Holmdel risks as many as three years in prison for his guilty plea to federal tax evasion today.

Steven Imburgio, 50, entered a plea deal in a Trenton federal courtroom and agreed to reimburse $198,000 plus penalties and interest to the Internal Revenue Service. Federal prosecutors estimated that Imburgio had cost the IRS between $80,000 and $200,000.

Imburgio admitted under-reporting gross profits of Americom USA on his personal tax returns in 2004, 2005 and 2006. The guilty plea applies to the 2004 return. His sentencing is scheduled for June.