Dorchester Businessman Charged with False Tax Returns for Gold and Silver Bar Purchases

In Dorchester, 78-year-old Claudio Poles was charged with four counts of filing false tax returns in federal court. The charges stemmed from an alleged scheme where he used unreported money to purchase over $10 million in gold and silver bars for himself. Poles did not accurately disclose his company’s gross business receipts to his tax preparer, who then submitted the company’s tax returns with false information. This unreported money was allegedly used by Poles to buy gold and silver bars, with the purchases described on the company’s checks as “Boilers,” “Materials,” and “P&H Supp” in an attempt to conceal them.

Between 2019 and 2022, Poles fraudulently reported losses on his individual tax returns while omitting the income he received from his business through purchasing the gold and silver bars. Each charge of filing a false tax return can result in a sentence of up to three years in prison, according to the U.S. Attorney’s office. The case highlights the importance of accurate reporting and transparency in tax filings for individuals and businesses alike. Stay informed on local developments by signing up for newsletters like Boston.com.