Oakmont man spent borrowed cash on luxury cars instead of IRS bill
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Builder Louis Lamanna borrowed money to pay a $613,357 tax bill but spent it on luxury cars instead, federal prosecutors said today as he pleaded guilty to three counts of misdemeanor willful failure to pay income taxes.
Mr. Lamanna, 46, of Oakmont, has been involved with Bentley Construction Co., L&S Landscaping and the car wash Rub a Dub Dub. He owed the Internal Revenue Service $308,372 for 2006, $272,025 for 2007 and $32,960 for 2008 and told agents that he was taking out a loan to pay it off, Assistant U.S. Attorney Tonya Goodman said at a plea hearing.
"Instead of paying the tax, the defendant chose to spend the money on luxury items to support his exorbitant lifestyle," Ms. Goodman said, noting that he purchased "three luxury vehicles" which she did not specify.
Initially charged with fraud in an indictment that said he tried to spend $2 million to keep it out of IRS hands, Mr. Lamanna pleaded guilty to the lesser charges.
Federal guidelines still suggest that he could face between two years and three months, and two years and nine months in prison.
He may also have to pay the tax due, plus penalty and interest as well as a fine of as much as $300,000.
Neither Mr. Lamanna nor his attorney Samuel Reich would comment after the hearing. U.S. District Judge Arthur J. Schwab set sentencing for Nov. 27.
First Published June 25, 2012 10:10 am