Guilty Plea for Lying on Pre-Sentencing Financial Disclosure Form (10/2/19)

I previously reported on the guilty plea and sentencing of Casey Padula for tax and bank fraud.  See  Another Offshore Account Guilty Plea Coupled with Bank Fraud Conspiracy (Federal Tax Crimes Blog 3/25/17), here; and Offshore Account Tax and Bank Fraud Conspiracy Sentencing (Federal Tax Crimes Blog 7/19/17), here.  Well, Padula is back with a guilty plea for lying on his pre-sentencing Financial Disclosure Form.  See DOJ Press Release, here. 

Key excerpt from the Press Release:

According to documents filed with the court, Casey Padula, age 51, formerly of Port Charlotte, Florida, made the false statements on a financial disclosure statement he was required to submit to the government after pleading guilty to tax and bank fraud. On July 17, 2017, in the prior prosecution, Padula was sentenced to 57 months in prison on one count of conspiracy to defraud the United States and commit bank fraud. Padula admitted using offshore entities and accounts to commit the tax fraud. Padula also committed bank fraud by carrying out a fraudulent short-sale transaction designed to reduce or eliminate his $1.5 million mortgage at Bank of America. Pursuant to his plea agreement, Padula was required to provide a full and accurate financial disclosure statement to the government. Instead Padula submitted a false financial disclosure statement in which he failed to disclose numerous assets, including a boat valued at almost $340,000, at least $80,000 in cash, and a $90,000 Mercedes he had recently purchased for his daughter.

JAT Comments:

1.  I suspect that some level of lying on the financial disclosure form is not uncommon.  (That happens on tax returns as well.)  And, as the saying goes, "Pigs get fat, hogs get slaughtered"