Abington Paving Company Owner Admits to Tax Evasion
ABINGTON — The owner of a paving company in Abington has pleaded guilty to tax evasion after underreporting his income on tax returns for the past seven years.
The U.S. Attorney's Office said 52-year-old Robert Brainard of Weymouth admitted to evading taxes in federal court in Boston on Monday after he was charged with one count of tax evasion on July 15.
Since 2014, Brainard, the former owner of Got Pavement Needs, Inc., has underreported income on his personal tax returns, according to the office.
This resulted in a federal income tax loss of more than $593,993, the office stated.
He also transferred ownership of his company in a straw sale to hide the fact that he still controlled the business and its income.
Brainard faces a sentence of up to five years in prison, up to three years of supervised release.
He must also pay a fine of $250,000 or twice the gross gain or loss, whichever is greater.
Sentencing is scheduled for Oct. 17, 2022.