Law & Justice

Cedar Grove Resident Found Guilty of Tax Fraud

989f921d33a737030098_fed1c2e4977e27f6f529_2eafe75589039d6dbb7c_edb89f709ec5a4752ef7_9f8f9ffe25d475a5079f_c70959bae8a00f55ad3d_dc450a998e9135c07018_1003479d4ea60ee00236_55072af69cca9951caf8_stock_image_-_law_revised_-_v1.jpg
989f921d33a737030098_fed1c2e4977e27f6f529_2eafe75589039d6dbb7c_edb89f709ec5a4752ef7_9f8f9ffe25d475a5079f_c70959bae8a00f55ad3d_dc450a998e9135c07018_1003479d4ea60ee00236_55072af69cca9951caf8_stock_image_-_law_revised_-_v1.jpg

CEDAR GROVE, NJ -  On July 29, U.S. Attorney Paul J. Fishman announced that Joseph Belasco, 65, of Cedar Grove, New Jersey was sentenced to six months in prison and six months of home confinement. Belasco agreed to pay restitution of $1 million to the Pepsi Bottling Group for his role in a tax fraud scheme. 

Belasco previously pleaded guilty before U.S. District Judge Jose L. Linares to superseding information charging him with providing a false 2008 IRS 1099 form to the wife of a PepsiCo executive for consulting services that she never performed. Judge Linares imposed the sentence in Newark federal court.

According to documents filed in the case and statements made in court:

Sign Up for E-News

In the spring of 1998, Belasco, along with a business associate, created Impact Cause Related Marketing (Impact Marketing), a subsidiary of Culinary Ventures Vending, a company that placed and stocked vending machines in private and commercial facilities, such as state colleges and entertainment venues. The purpose of Impact Marketing was allegedly to provide Pepsi Bottling Co. with leads for acquiring new customers to purchase its cans, bottles and fountain products. Impact Marketing and Belasco would receive commissions for as long as the client remained a Pepsi customer. According to its contract, Impact Marketing would also receive quarterly rebates, depending upon the amount of Pepsi product a customer purchased on an annual basis.

Edwin Glasspool, a Pepsi employee who developed new customers, assigned those customers to Impact Marketing. He also reassigned existing Pepsi customers to the list of new customers allegedly referred by Impact Marketing, generating additional commissions for leads for Belasco that Belasco had not actually generated himself. Between 1998 and 2008, Impact Marketing received from Pepsi $2.9 million in commissions and rebates as a result of the fraudulent scheme. Glasspool’s wife, Janice Bachman, who filed joint tax returns with her husband, received approximately $135,000 in annual income for a no-show position with Belasco and Impact Marketing. Glasspool had previously pleaded guilty to defrauding Pepsi of $2.9 million dollars and having his wife receive his annual share of the defrauded money through checks for consulting services issued by Impact Marketing, the vending company.

In addition to the incarceration and the $1 million in restitution, Belasco was sentenced to two years of supervised release and fined him $30,000 by Judge Linares.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

West Essex

Essex County Freeholders Celebrate African-American History Month

February 22, 2018

NEWARK, NJ – At its 2018 African-American History Month Celebration on Wednesday at the Hall of Records in Newark, the Essex County Board of Chosen Freeholders commemorated the heritage, culture, resilience, and spirit of the African-American community.

Brendan Gill, board president and Freeholder At-Large, first acknowledged African-American contributions, both past and present, in ...

Shouts of Racial Slurs During "Black Panther" Bring Police to Sparta Theatre

February 21, 2018

SPARTA, NJ – Sparta police were called to the New Vision Sparta Theater on Sunday night because of a woman shouting slurs in a screening of Black Panther.

Former New Jersey Assembly candidate Michael Grace was in the theater when two people started yelling racial slurs including “look at these ‘n-word’” and “can you believe these ...

Upcoming Events

Carousel_image_390a4586af4b60582b01_coffee_with_a_cop_caldwell

Sat, February 24, 10:00 AM

Rock “N” Joe Coffee Bar, Caldwell

Caldwell Coffee With a Cop

Police & Fire

Carousel_image_45b9574cb5a04b8bcbfa_stephen_fuller_photo

Sun, February 25, 2:00 PM

West Caldwell Public Library, West Caldwell

Concert with Stephen Fuller Quartet

Arts & Entertainment

Free Cardiac and Concussion Screenings for Young Athletes

February 22, 2018

WEST ORANGE, NJ — The Matthew J. Morahan III Health Assessment Center for Athletes (MJM) at RWJBarnabas Health will provide free cardiac and concussion baseline screenings to young athletes on Saturday, March 3, from 8 a.m. to 2 p.m. at South Mountain Recreation Complex, Codey Arena, 560 Northfield Avenue, West Orange, NJ.

When preliminary testing to identify serious cardiac ...

Let the Games Begin

I am truly awed by the Olympics.  Watching these superb young athletes on TV inspires me to renew my membership to the gym and pursue my lifelong dream of taking home the gold.  

 

The problem is that in my deluded head, I can see actually see myself standing atop the podium.  I am wrapped in a puffy designer ski coat with a huge piece of bling slung around my neck ...