Marlboro Food Executive Admits Tax Evasion
A Marlboro food-distribution executive faces up to five years in prison when he's sentenced in September for federal income tax evasion.
John Annetta, 61, pleaded guilty today in a Trenton courtroom. He had been senior vice-president of White Rose Foods, based in New Jersey and in New York City.
Documents and testimony filed with New Jersey U.S. Attorney Paul Fishman's office indicate that during his employment between 2006 and 2011, Annetta received $1,648,085 from two individuals and failed to report any of it as taxable income. The amounts vary from $106,500 in 2006 to as much as $398,542 in 2009.
Fishman's office says that Anetta admitted to owing the government $536,530 if he had reported it.
In addition to the possible prison term, Annetta could be held responsible for as much as $250,000 in fines.
Fishman says U.S. Postal inspectors and the IRS Criminal Investigation unit led the probe that resulted in the guilty plea.