Philadelphia Man Pleas Guilty To Tax Evasion

Stephen Leib, 73, of Philadelphia, Pennsylvania pleaded guilty today to three counts of tax evasion announced Acting United States Attorney Louis Lappen. According to the Information, Leib owned and operated New Wave Logistics, Inc., located on Bustleton Avenue in Philadelphia, Pennsylvania. Despite having a business bank account, Leib used a check casher to cash the majority of the checks his business received. Leib lied to his accountant about the total income his business earned in 2008, 2009, and 2010, by claiming his business bank account represented his total income. As a result, Leib’s accountant omitted a substantial amount of income from Leib’s tax returns in 2008, 2009, and 2010. From 2008-2010, Leib evaded the assessment and payment of over $800,000 in taxes by hiding his total business income from the IRS and by filing false tax returns.

The defendant faces a maximum possible sentence of five years’ imprisonment, a $250,000 fine, a $100 assessment, and three years of supervised release per count of conviction.

The case was investigated by IRS Criminal Investigations and is being prosecuted by Assistant United States Attorney Tiwana Wright.