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Richard Josephberg admitted that he fraudulently reported a 2011 commission of approximately $1.5 million as a long-term capital gain, which was taxed at a much lower rate than ordinary income.
The Ridgefield resident has had various ownership interests in several pizza restaurants in Fairfield and Westchester counties.
Owner Ryan S. Rozycki failed to report more than $1.1 million in taxable income over a five-year period.
The owner was released on a $100,000 bond and faces a maximum term of imprisonment of five years, a fine of up to approximately $742,000, and back taxes, interest and penalties.
Gajwani was charged with siphoning the funds from the company via wire transfers, writing company checks to himself and making cash withdrawals from the corporate bank account.
Donald Biagi Jr., owner of Fairfield’s Don Biagi Landscaping, faces a maximum term of imprisonment of five years and a fine of up to $250,000.