3/29/2009
NEWS BRIEFS
Distributor Gets 30-Month Prison Sentence

A former fastener distributorship owner was sentenced to 30 months in prison for tax evasion.

Former Cetomac Fasteners Ltd. owner Stephen S. Markesky, 60, was handed the sentence in a federal case out of Hartford, court records state. He pleaded guilty in 2007 to “willfully evad(ing) his tax obligations to the United States on the income he received from Cetomac in the years 1999, 2000, and 2001.”

Authorities say Markesky falsified tax returns to understate his taxable income and federal tax liability from 1999 to 2001.

“Markesky used nominee companies and conduit companies to receive his income, deposited much of this income at bank accounts he maintained at the National Irish Bank, and concealed the existence of these accounts from the Internal Revenue Service,” stated Nora R. Dannehy, acting U.S. Attorney for the District of Connecticut.

In addition to the prison sentence, Markesky was ordered to pay a $25,000 fine and $206,221 in restitution.

Now out of business, Cetomac was based in Birmingham, England-based and sold industrial fasteners.