Shore pizzeria owners admit cooking the books
The Somers Point couple who own the iconic Manco & Manco pizzeria chain have an October 8 sentencing date for skipping federal tax payments, structuring cash to avoid reporting requirements and lying to investigators of the Internal Revenue Service (IRS).
Charles Bangle, 55, pleaded guilty to tax evasion regarding his 2010 returns and to structuring financial transactions in 2011 to evade reporting requirements, according to information from the office of New Jersey U.S. Attorney Paul J. Fishman. Mary Bangle, 54, pleaded guilty to making materially false statements to IRS agents.
His tax evasion count, and her false-statements charge, carry possible prison terms of five years and fines up to $250,000, or twice the gain or loss arising from the offense. The structuring count could place Charles Bangle in prison for as much as 10 years, with the identical fine structure.
The couple worked in the former Mack & Manco operation on the Ocean City boardwalk, renaming it when they bought controlling interest in 2011, investigators said. Charles Bangle admitted reporting income of $127,955 in 2010, omitting $263,113 in taxable income that he placed in a bank account, investigators said.
He admitted keeping cash deposits below the $10,000 threshold for filing currency transaction reports with the U.S. Treasury Department. Authorities estimated that he avoided taxes amounting to $91,577.
Mary Bangle, who handled cash and payroll, admitted telling IRS special agents in 2012 that when cash receipts arrived at the business, she kept only enough to cover weekly wages and bills, but actually hung onto them for personal use.
She also deposited substantially more into her personal account than the net wages noted on her W-2 forms from the business, authorities said.