Florida Resident Convicted of Tax Evasion

NEWARK, N.J. – A resident of Florida was convicted of four counts of tax evasion, Attorney Philip R. Sellinger announced today.

Jason Kronick, 50, of Boca Raton, Florida, was convicted by a federal jury on June 26, 2024, of four counts of tax evasion following a trial before U.S. District Judge Susan D. Wigenton in Newark federal court.

According to documents filed in this case and the evidence at trial:

From 2010 through 2017, Kronick evaded payment of more than $8.6 million in income and employment taxes, including penalties and interest, despite having earned more than $20 million in taxable income. Kronick also collected approximately $200,000 in payroll taxes from employees of his company, but failed to remit those withholdings to the IRS and evaded his obligation to do so. Kronick evaded these taxes by, among other things, using approximately $1.8 million from accounts controlled by him to buy more than 40 luxury watches; spending more than $4.7 million to pay for home renovations and interior decorating; transferring more than $1.8 million, including funds originating from business accounts, to various casinos, where he converted the money to chips, gambled, and then redeemed chips for approximately $1.8 million in cash; and cashed approximately $159,000 in checks at check-cashing businesses to conceal his income and assets from the IRS.

Each of the four counts of tax evasion carries a maximum penalty of five years in prison and a fine of up to $250,000. Kronick’s sentencing is scheduled for Nov. 14, 2024.

U.S. Attorney Sellinger credited special agents of IRS-Criminal Investigation, under the direction of Special Agent in Charge Jenifer L. Piovesan, with the investigation leading to the conviction.

The government is represented by Assistant U.S. Attorneys Rachelle M. Navarro and Christopher Fell of the Criminal Division in Newark.