PHILADELPHIA PA (March 15, 2017)---Defendant Stephen Leib was arraigned on March 10 in the United States District Court for the Easter District of Pennslyvania on charges of tax evasion. On that same day, Leib also pleaded guilty to all three counts of tax evasion that he was charged with.
According to court documents, Leib was the owner of New Wave Logistics Inc. located on Bustleton Avenue in Philadelphia, PA. The court documents state, Leib attempted to evade a large part of the income tax he owes the U.S. government by concealing his true and correct income. He did so by various means; including cashing a significant amount of New Wave’s gross receipt checks at a check cashing business in Philadelphia instead of depositing the gross receipts into New Wave’s business bank account.
He also provided the accountant who prepared his tax returns with only the bank statements for his business account when he knew that the majority of his gross receipts were not deposited into his business bank account. He lied to his accountant who prepared his business and personal tax returns by stating that all of New Wave’s gross receipts were included in the New Wave business bank account statements.
As a result of this course of conduct, defendant STEPHEN LEIB evaded the assessment and payment of over $800,000 in taxes by hiding his total business income from the IRS and by filing false tax returns.
After pleading guilty, Leib was released on bail in the amount of $200,000 O/R bond. Sentencing is scheduled for June 14, 2017 at 12:45PM in COURTROOM 12-B before HONORABLE JAN E. DUBOIS.