FAIRVIEW, N.J. – A Fairview charter bus company owner from Cliffside Park admitted Thursday that he stiffed the government of out nearly $500,000 in income tax payments.
Adel Saadalla, the 52-year-old owner and operator of K&T Express, told a federal judge in Trenton that he deposited proceeds from the business into his personal bank accounts from 2010 through 2013 and didn’t report it, New Jersey IRS Special Agent in Charge Jonathan D. Larsen said.
“In doing so, he caused an approximate tax due and owing to the government of $492,644,” Larsen said.
Larsen’s Criminal Investigation team conducted the investigation in tandem with U.S. Attorney Paul J. Fishman’s office. Assistant U.S. Attorney Justin S. Herring is handling the prosecution.
U. S. District Judge Freda L. Wolfson set sentencing on the tax evasion plea for March 22, 2017.
The plea “should reassure those Americans who file accurate, honest and timely returns that the government will hold accountable those who do not,” Larsen said.