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Bobzin has agreed to pay restitution of $2,062,580, the U.S. attorney's office said, adding he will also cooperate with the IRS to pay $436,178 in taxes, as well as penalties and interest. It said he is released on a $50,000 bond pending sentencing.
He's not paying back 100% of the funds taken within the statute of limitations therefore the difference is income and taxable.Interesting. Even when he fully pays restitution to Hoffmans, he still owes taxes on the money he took and then returned. Seems like an interesting double hit (not that he does not deserve it). But I find still owing taxes to the IRS questionable here if he pays back Hoffmans.
And where is that information in the article? To owe 436K in taxes he would have had to essentially take another 2M outside the statute of limitations. That makes zero sense and is inconsistent with the information in the article.He's not paying back 100% of the funds taken within the statute of limitations therefore the difference is income and taxable.
he made 287 cash deposits totaling $1,901,250 and $161,330 in cashier's checks into his bank accounts
Bobzin has agreed to pay restitution of $2,062,580, the U.S. attorney's office said, adding he will also cooperate with the IRS to pay $436,178 in taxes, as well as penalties and interest. It said he is released on a $50,000 bond pending sentencing.
Went back and edited my post after fully reading the article - I thought that he was paying back a portion of the theft but he is paying back the entire amount.And where is that information in the article? To owe 436K in taxes he would have had to essentially take another 2M outside the statute of limitations. That makes zero sense and is inconsistent with the information in the article.
For those without a calculator 1901250 + 161330 = 2062580 so he agreed to pay in restitution everything he took and deposited into his accounts
Interesting. Even when he fully pays restitution to Hoffmans, he still owes taxes on the money he took and then returned. Seems like an interesting double hit (not that he does not deserve it). But I find still owing taxes to the IRS questionable here if he pays back Hoffmans.
You hiring??It happens all the time. Honestly I'm not sure if I would notice that over 10 years if one of my office staff hid it well
I am surprised that Hoffman's didn't notice $2 million missing from their safe??? It was over a 10 year span but still it was the bank that finally figured out something was going on??? Even if he was the IT guy AND bookkeeper (unlikely) someone should of noticed that kind of $$$ disappearing.
I bought a few guns there but never really cared for the place. Maybe it was just they guys I happened to deal with but there was a certain arrogance I felt.
You can't out steal the IRS. They pissed he stole the money and didnt give them a cut.From 2016 to 2022, the U.S. attorney's office said Bobzin failed to report the money on his federal tax returns, resulting in a loss to the IRS of $436,178. It said one example of his tax avoidance was in the 2020 tax year, when he reported just under $10,000 in taxable income and owed nothing, but did not report the $432,615 he had stolen that year — meaning he dodged $110,530 in taxes.
It does help that it's probably the highest or one of the highest gross revenue shops in CT, but it's still pretty crazy that it pissed that much cash out the side and nobody noticed. My guess is they don't have a tight POS/inventory system and something that makes it easy to tie objects to money.$17,000 of theft a month, every month for 120 months. How bad of a business owner do you need to be?
And I have a further question: Is that wholesale or retail??? Because if he stole a gun that cost $249 that would retail for $399, I'm assuming he stole $249. But that isn't always the case.
It's like 35 Glocks a month. For 10 years. No one noticed.