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March 12. 2013 10:03PM
MANCHESTER - A Manchester man pleaded guilty last week to a tax evasion scheme and for receiving federal rental assistance funds while he was being paid federal rental assistance for properties he owned in Nashua and Quincy, Mass.
Raymond Stebbins, 70, who previously lived in Weymouth, Quincy and Woburn, Mass., pleaded guilty March 7 in U.S. District Court in Boston to two counts of conspiracy, five counts of tax evasion, two counts of making false statements and theft of public money. Sentencing is June 11.
Stebbins worked as a sales representative for Christopher McGadden of Windham, who was general manager of Xcel Fire Protection Inc., a fire protection sprinkler business based in Salem. Stebbins admitted he conspired to help McGadden and the owner of a Nashua construction company to divert cash from their businesses to avoid paying federal income taxes between 1999 an 2010.
Stebbins owned Stebbins Trucking, Thompson Moving and Warehouse, Stebbins Realty and a number of other companies that operated at various times in Salem and Weymouth, Mass.
Stebbins admitted he sent phony invoices to McGadden and the owner of the Nashua construction company - identified in court documents as "FV" - then deposited their payments in bank accounts Stebbins set up. The three made structured cash withdrawals from the bank accounts to avoid paying income taxes.
The Patriot Ledger newspaper in Quincy, Mass., reported Stebbins deprived the federal government of more than $4 million through both the theft of U.S. Housing and Urban Development rental assistance money and tax evasion schemes.
Prior to the tax evasion schemes, Stebbins received HUD rental assistance money intended for low-income renters from 1998 to 2008. He continued to receive rental assistance money after he bought a two-unit rental property in Nashua in 2003 and a four-unit building in Quincy, Mass. in 2007. Stebbins later accepted HUD rental housing assistance payments as the landlord for both properties. The government said he stole more than $45,000 in HUD benefits between 2002 and 2008.
McGadden pleaded guilty in 2011 to tax evasion and conspiracy to defraud the federal government and completed his one-year prison term last September. He is serving two years of supervised release. The court also ordered him to pay a $7,500 fine and $178,435 in restitution.
Raymond Stebbins of Manchester pleads guilty to tax evasion, conspiracy charges
Raymond Stebbins, 70, who previously lived in Weymouth, Quincy and Woburn, Mass., pleaded guilty March 7 in U.S. District Court in Boston to two counts of conspiracy, five counts of tax evasion, two counts of making false statements and theft of public money. Sentencing is June 11.
Stebbins worked as a sales representative for Christopher McGadden of Windham, who was general manager of Xcel Fire Protection Inc., a fire protection sprinkler business based in Salem. Stebbins admitted he conspired to help McGadden and the owner of a Nashua construction company to divert cash from their businesses to avoid paying federal income taxes between 1999 an 2010.
Stebbins owned Stebbins Trucking, Thompson Moving and Warehouse, Stebbins Realty and a number of other companies that operated at various times in Salem and Weymouth, Mass.
Stebbins admitted he sent phony invoices to McGadden and the owner of the Nashua construction company - identified in court documents as "FV" - then deposited their payments in bank accounts Stebbins set up. The three made structured cash withdrawals from the bank accounts to avoid paying income taxes.
The Patriot Ledger newspaper in Quincy, Mass., reported Stebbins deprived the federal government of more than $4 million through both the theft of U.S. Housing and Urban Development rental assistance money and tax evasion schemes.
Prior to the tax evasion schemes, Stebbins received HUD rental assistance money intended for low-income renters from 1998 to 2008. He continued to receive rental assistance money after he bought a two-unit rental property in Nashua in 2003 and a four-unit building in Quincy, Mass. in 2007. Stebbins later accepted HUD rental housing assistance payments as the landlord for both properties. The government said he stole more than $45,000 in HUD benefits between 2002 and 2008.
McGadden pleaded guilty in 2011 to tax evasion and conspiracy to defraud the federal government and completed his one-year prison term last September. He is serving two years of supervised release. The court also ordered him to pay a $7,500 fine and $178,435 in restitution.
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