Around New England

Dorchester Co-Owner of Business Hid Business Income By Buying Gold and Silver Bars With It, Feds Say

May 10, 2024

A Dorchester man hid business income from the plumbing and heating supply company in Mattapan he co-owns by using the money to buy more than $10 million worth of gold and silver bars while writing on the checks that the money was going to buy boilers, materials, and supplies, prosecutors say.

Claudio Poles, 78, pleaded guilty to four counts of filing false tax returns in U.S. District Court in Boston on Thursday, May 9, according to a press release from the U.S. Attorney’s Office for the District of Massachusetts.

“Poles failed to accurately disclose the company’s gross business receipts to its tax preparer, who prepared the company’s tax returns using the false information Poles provided. Poles then used some of the unreported gross receipts to purchase more than $10 million of gold and silver bars for himself from bullion dealers,” prosecutors said in the press release.

Sentencing is scheduled for August 9.


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