Saving Seafood

Another New Bedford Fish Dealer Pleads Guilty to Tax Evasion

December 21, 2017 — SEAFOOD NEWS — George F. Estudante, a former New Bedford seafood wholesaler, pleaded guilty in a Boston federal court on December 18 to two counts of failing to file tax returns and one count of filing a false income tax return.

The owner of Basic Fisheries failed to file an income tax return in 2010 despite receiving approximately $1,418,629 in payments. In 2011 he failed to file a tax return despite receiving a total of $1,607,726 for the year. In 2012 he filed a tax return saying that he received $533,078 in gross receipts. His bank account for that year showed that he received over $740,000.

Estudante will be sentenced on March 13, 2018. He faces a sentence of no greater than one year in prison, one year of supervised release and a fine of $25,000 for failing to file an income tax return. He also faces no greater than three years in prison, one year of supervised release and a fine of $100,000 for filing a false income tax return.

This is the second person in the New Bedford seafood industry in the last month to plead guilty to tax evasion. On November 28 Orlando Cardoso, a production manager at Seatrade International in New Bedford, failed to report $75,000 in earnings on his 2012 and 2013 tax returns.

This story originally appeared on Seafoodnews.com, a subscription site. It is reprinted with permission.

 

Former seafood wholesaler indicted on tax evasion

July 14, 2017 — A former New Bedford seafood wholesaler was indicted Thursday on two counts of failing to file a tax return and one count of filing a false tax return.

George Esturdante, former owner of Basic Fisheries in Marion, didn’t file tax returns in 2010 or 2011 despite receiving more than $3 million in payments during the two-year period, according to court documents.

Estudante, who currently resides in Virginia, but lived in Marion, also falsely submitted his 2012 tax return, the indictment said.

The indictment states Estudante held a bank account at BayCoast Bank for Basic Fisheries. In 2010, he deposited $1,418,629 into the account. In 2011, he deposited $1,607,726 into the account, the indictment said.

In neither year did Estudante file a tax return.

Then in 2012, he swore on his return that he received approximately $533,078 in gross receipts when his bank account stated he received $744,461.41.

The charge of failing to file an income tax return involves a maximum of one year in prison, one year of supervised release and a fine of $25,000

Read the full story at the New Bedford Standard-Times