HORRY COUNTY, SC (WMBF) - According to the South Carolina Department of Revenue Public Relations Office, an Horry County Businessman was caught cheating and arrested for tax evasion and false pretense.
Horry County resident Philip Gizzi was arrested Tuesday by South Carolina Department of Revenue investigators on four counts of willful attempt to evade or defeat a tax and two counts of obtaining a signature or property by false pretense.
For tax years 2010 through 2013, Gizzi earned more than $767,000 in gross income and admitted to knowingly failing to timely and voluntarily file South Carolina individual income tax returns. The defendant evaded more than $28,900 in state taxes.
According to SCDOR, in 2013, Gizzi, self-employed, knowingly made false and misleading statements regarding the operations and profits of a business he had for sale. Intending to defraud buyers, the defendant was paid a total of $47,500 for the purchase of the business based upon his false representation of facts.
Gizzi is currently being held at the J Reuben Long Detention Center pending a bond hearing. If convicted of tax evasion, the defendant faces up to five years in prison and/or fines up to $10,000 per count. If convicted of falsely obtaining a signature or property, Gizzi faces up to ten years in prison and a fine up to $500 per count, the SCDOR said.