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Former N.H. majority leader charged with tax violations
http://www.citizen.com/apps/pbcs.dll/article?AID=/20070419/NEWS0201/70419023/-1/CITIZEN
CONCORD, N.H. (AP) _ A former majority leader in the
New Hampshire House was arraigned Wednesday on charges
he violated federal income tax laws _ allegations
similar to those that landed him in prison in the early 1990s.
Vincent Palumbo, 50, of Kingston, is accused of not
filing income tax returns from 2000 to 2004. Palumbo,
a mortgage loan officer, made as much as $734,000 during
each of those years, according to the U.S. Attorney's Office.
Palumbo was charged Wednesday and faces up to a
year in prison and a fine of $250,000 on each
of five charges if convicted.
Palumbo, once viewed as a rising star in New Hampshire's
Republican Party, was sentenced to 15 months in jail in 1991.
The four-term state representative from Kingston pleaded guilty
to seven counts of bank fraud and three counts of income tax evasion.
Prosecutors said he failed to file tax returns from 1986 to 1988.
Prosecutors said he acquired $225,000 in unsecured loans
from seven New Hampshire banks on false pretenses.
Officials said he lied about his income, assets,
debts and employment.
Palumbo was eyed as a potential U.S. House candidate
before he resigned in October 1989 amid allegations
he lied about his education and business background.
Palumbo's new trial is scheduled to begin in June.
http://www.citizen.com/apps/pbcs.dll/article?AID=/20070419/NEWS0201/70419023/-1/CITIZEN
CONCORD, N.H. (AP) _ A former majority leader in the
New Hampshire House was arraigned Wednesday on charges
he violated federal income tax laws _ allegations
similar to those that landed him in prison in the early 1990s.
Vincent Palumbo, 50, of Kingston, is accused of not
filing income tax returns from 2000 to 2004. Palumbo,
a mortgage loan officer, made as much as $734,000 during
each of those years, according to the U.S. Attorney's Office.
Palumbo was charged Wednesday and faces up to a
year in prison and a fine of $250,000 on each
of five charges if convicted.
Palumbo, once viewed as a rising star in New Hampshire's
Republican Party, was sentenced to 15 months in jail in 1991.
The four-term state representative from Kingston pleaded guilty
to seven counts of bank fraud and three counts of income tax evasion.
Prosecutors said he failed to file tax returns from 1986 to 1988.
Prosecutors said he acquired $225,000 in unsecured loans
from seven New Hampshire banks on false pretenses.
Officials said he lied about his income, assets,
debts and employment.
Palumbo was eyed as a potential U.S. House candidate
before he resigned in October 1989 amid allegations
he lied about his education and business background.
Palumbo's new trial is scheduled to begin in June.
