2002-10-07 -- Urso, Vincent and Peri-Lee -- Guilty Plea -- News Release

Short Hills Restaurant Owners Admit Cash Structuring

NEWARK - Two Short Hills restaurant owners pleaded guilty today to conspiring to structure currency transactions for the purpose of evading their income taxes, U.S. Attorney Christopher J. Christie announced.

Vincent and Peri-Lee Urso, who are husband and wife, admitted to structuring more than $600,000 in receipts from their restaurant into their attorney's trust account for the purpose of purchasing real estate and avoid the payment of taxes on te income received from their restaurant, according to Assistant U.S Attorney Perry A. Carbone.

Both Vincent Urso, 39, and Peri-Lee Urso, 35, told U.S. District Judge Faith S. Hochberg that from 1994 to 1999 they conspired to structure over $600,000 in cash receipts into their attorney's trust account by purchasing postal money orders, travelers checks and official bank checks in amounts in amounts less than $10,000. The Ursos said they then caused the monetary instruments to be deposited into their attorney's trust account.

The Ursos also admitted that they caused cash in amounts greater than $10,000 to be split into smaller amounts and then deposited into their attorney's trust account.

When a customer deposits in excess of $10,000 in cash, federal law requires that banks file a currency transaction report ("CTR") to report the transaction to the Internal Revenue Service. The reporting laws are designed, among other things, to help law enforcement detect movements of cash that could be associated with illegal activity.

Under U.S. Sentencing Guidelines, Judge Hochberg will determine his actual sentence based upon a formula that takes into account the severity and characteristics of the offense, and a defendant's criminal history, if any.

Parole has been abolished in the federal system. Under Sentencing Guidelines, defendants who are given custodial terms must serve nearly all that time.

Under an Information a defendant waives the right to have his case presented to a Federal Grand Jury and, instead, pleads guilty to charges presented by the Government.

The defendants were both released on a $10,000 personal recognizance bond.

Christie credited Special Agents of the Criminal Investigation Section of the IRS, under the direction of Special Agent in Charge Anne D. Fahy, and Acting U.S. Postal Inspector in Charge Ronald Walker, with developing the cases against the Ursos.

The Government is represented by Assistant U.S. Attorney Perry A. Carbone of the U.S. Attorney's Special Prosecutions Division, in Newark.

-end-

Defense Attorneys:

Vincent Urso - Richard Sapinski, Esq. and Larry Horn, Esq., Newark

Peri-Lee Urso - Frederick Polak, Esq., Roseland