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Ex-staffing firm owner pleads guilty to hiding $10 million

May 08, 2024

The owner of a staffing firm pleaded guilty in a scheme that hid more than $10 million in corporate income.

Su Nguyen, 60, of Quincy, Massachusetts, pleaded guilty May 6 to aiding and assisting in the filing of false tax returns, the US Attorney’s Office for the District of Massachusetts announced on May 7.

Nguyen owned and operated temporary staffing firm General Employment Services between 2016 and 2020, according to the department. While Nguyen deposited a small number of client checks in a bank account that he used for the GES business and reported that income to the IRS, he cashed the majority of clients’ checks at a check cashing service in Worcester, Massachusetts. Nguyen used money from those checks on himself and to pay some employees’ wages.

In total, he cashed more than $10 million in client checks and did not report that income or the wages paid in cash to the IRS, according to the department. As a result, he failed to pay more than $2 million in taxes.

Sentencing is scheduled for Sept. 5.

Nguyen’s attorney has been contacted for comment.