Former General Glass CEO Sentenced to 18 Months for Tax Evasion

A former financial officer and president of General Glass Equipment Company in Galloway was sentenced to a year and a half in prison for concealing his actual income on corporate and personal tax returns, including more than $700,000 he failed to report in 2004, U.S. Attorney Paul J. Fishman announced Wednesday evening.

Frank A. Dominico, 68 of Linwood, previously pleaded guilty to an indictment charging him with filing false income tax returns.

He must also serve one year of supervised release and pay $840,321 in restitution.

Between 2004 and 2009, Dominico worked as a financial officer for General Glass and prepared their corporate income tax returns, according to documents filed and statements made in court.

During that time he was promoted from treasurer to president of the company. For each tax year between 2004 and 2008, Dominico admitted he filed returns which reported only a portion of his income and, in some years, overstated his itemized deductions.

In 2004, he he listed his compensation from General Glass as $51,334 on his personal tax return and $89,822 on General Glass’s corporate federal income tax return, failing to report an additional $722,000 in compensation for the 2004 tax year. This resulted in a tax loss of $129,170 for the United States.

Fishman credited special agents of IRS-Criminal Investigation, under the direction of Acting Special Agent in Charge Jonathan D. Larsen, with the investigation.