December 21, 2017 — SEAFOOD NEWS — George F. Estudante, a former New Bedford seafood wholesaler, pleaded guilty in a Boston federal court on December 18 to two counts of failing to file tax returns and one count of filing a false income tax return.
The owner of Basic Fisheries failed to file an income tax return in 2010 despite receiving approximately $1,418,629 in payments. In 2011 he failed to file a tax return despite receiving a total of $1,607,726 for the year. In 2012 he filed a tax return saying that he received $533,078 in gross receipts. His bank account for that year showed that he received over $740,000.
Estudante will be sentenced on March 13, 2018. He faces a sentence of no greater than one year in prison, one year of supervised release and a fine of $25,000 for failing to file an income tax return. He also faces no greater than three years in prison, one year of supervised release and a fine of $100,000 for filing a false income tax return.
This is the second person in the New Bedford seafood industry in the last month to plead guilty to tax evasion. On November 28 Orlando Cardoso, a production manager at Seatrade International in New Bedford, failed to report $75,000 in earnings on his 2012 and 2013 tax returns.
This story originally appeared on Seafoodnews.com, a subscription site. It is reprinted with permission.