PHILADELPHIA (CBS) – The owner of a popular Ocean City restaurant chain, Manco & Manco, has been released from federal custody after spending time behind bars for tax evasion.
The Federal Bureau of Prisons tells CBS Philly that 58-year-old Charles Bangle, of Somers Point, was released on Friday.
He previously pleaded guilty to tax evasion charges and was sentenced last year to 15 months in prison, and three years supervised release.
According to the indictment, by only reporting $127,955 in 2010 and omitting an additional $263,113 in taxable income, Bangle avoided $91,577 in taxes. He also admitted to making cash deposits into his TD Bank account in February 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.
There are multiple Manco & Manco Pizza establishments on the Ocean City Boardwalk and one store in Somers Point.
Bangle’s wife, Mary, was also sentenced last year to three years probation for lying to the IRS.