SAN DIEGO (CN) – Just in time for Tax Day, the president of a medical billing company pleaded guilty to a felony charge of deducting federal taxes from employees’ paychecks but not really paying them – for 13 years. Anthony S. Vacchi Jr. owes Uncle Sam $2,502,916 in taxes, federal prosecutors said.
Vacchi, 59, was managing partner of Healthcare Reimbursement Associates, and CEO of HRA Medical Management. He deducted taxes from his workers’ paychecks from September 2003 through December 2006, but didn’t pay them, the U.S. Attorney’s Office said in announcing the plea Wednesday.
The plea must be accepted by a federal judge on or before Vacchi’s sentencing on July 16. He faces up to 5 years in jail and a fine of up to twice the gross gain or loss of the offense.