Courtesy of WRCR.
A Suffern man who operated 95 nursing homes in 11 states, including New Jersey, admitted this week to concocting a $38 million tax fraud scheme, ultimately leading to his company’s collapse. That’s according to NJ.com. US Attorney Philip Sellinger says 64 year-old Joseph Schwartz pleaded guilty to failing to pay employment taxes that had been withheld from his company’s employees, and failing to file annual financial reports with the Department of Labor for their 401k plan. He is scheduled to be sentenced in May. He faces five to fifteen years behind bars, and a fine.