United States of America v. Philip Castracucco

New York City, New York, criminal defense lawyer represented the Defendant charged with fraud and making false statements.

Philip Castracucco was the owner of a contracting business (“Company-1”) that performed construction work, primarily for masonry projects in the vicinity of Westchester County, New York. From 2017 through 2022, CASTRACUCCO caused Company-1 business receipt checks in a total amount of more than $3.5 million to be cashed through a check cashing business and converted to cash, rather than deposited into Company-1’s business bank account. CASTRACUCCO used this cash to pay salaries and wages to himself and his employees; for other items purchased for his own benefit; and for materials used by Company-1.

From 2018 through 2023, CASTRACUCCO filed with the Internal Revenue Service (“IRS”) U.S. Income Tax Returns for an S Corporation, IRS Forms 1120-S, for Company-1 that omitted its gross receipts from the aforementioned checks and more than $1 million of salaries and wages paid by Company-1 to CASTRACUCCO and others. CASTRACUCCO also caused to be filed with the IRS Forms 941, Employer’s Quarterly Federal Tax Returns, for Company-1 that omitted these salaries and wages.

From 2020 through 2023, CASTRACUCCO filed and caused to be filed with the IRS personal U.S. Individual Income Tax Returns, IRS Forms 1040, that omitted more than $900,000 of business income CASTRACUCCO received from Company-1.

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CASTRACUCCO, 63, of Tuckahoe, New York, pled guilty to one count of making and subscribing to false U.S. Individual Income Tax Returns, which carries a maximum sentence of three years in prison. CASTRACUCCO has agreed to pay restitution to the IRS, representing the additional tax due and owing as a result of his conduct, in an amount no less than $359,646.57. Sentencing before Judge Clarke is scheduled for September 9, 2026.

The statutory maximum sentence is prescribed by Congress and provided here for informational purposes only, as any sentence imposed on the defendant will be determined by the judge.

Mr. Clayton praised the outstanding investigative work of IRS-CI in this case.

The case is being handled by the Office’s White Plains Division. Assistant U.S. Attorney Jeffrey C. Coffman is in charge of the prosecution.

The Defendant elected to plead guilty.