Sentencing Set for Manco & Manco Owners In Tax Evasion Case
PHILADELPHIA (CBS)—A sentencing hearing is set for Friday for the owners of the popular Ocean City restaurant chain Manco & Manco, who have pleaded guilty to tax evasion charges, according to a spokesman from the U.S. District Attorney for New Jersey.
Charles Bangle, 55, of Somers Point, pleaded guilty in 2015 to evading taxes with respect to his 2010 personal tax returns and structuring his financial transactions in 2011 to avoid reporting requirements.
Bangle's wife, Mary Bangle, 54, also pleaded guilty to charges that she knowingly made false statements to IRS special agents.
According to the indictment, by only reporting $127,955 in 2010 and omitting an additional $263,113 in taxable income, Charles Bangle avoided $91,577 in taxes. He also admitted to making cash deposits into his TD Bank account in February of 2011 in increments of less than $10,000 in order to prevent TD Bank from filing a Currency Transaction Report with the U.S. Department of Treasury.
Owners of Manco & Manco Pizza in Ocean City Charged with Tax Evasion
Mary Bangle admitted that she was interviewed by IRS special agents on May 30, 2012 at which time she was asked questions about her personal bank account. She falsely stated that, when cash receipts came into the business, she only retained enough to pay that week's payroll and some bills, when in fact she retained cash receipts for her personal use.
Authorities say Mary Bangle also lied to agents about the amount of cash deposited into her personal banking account, which was substantially more that the net pay listed on her W-2 forms issued by Manco and Manco Pizza.
The two counts to which Charles Bangle pleaded guilty carries a combined maximum potential of up to 15 years in prison and a $500,000 fine.
The false statements charge to which Mary Bangle pleaded guilty carries a maximum potential penalty of five years in prison and a $250,000.
The Bangles were set to be sentenced back on Oct. 8, 2015, but the date has been delayed roughly six times.
The pair are scheduled to appear at the U.S. District Court in Camden Friday afternoon.
There are four Manco & Manco Pizza establishments in South Jersey--three on the Ocean City Boardwalk and one store in Somers Point.
