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Western NY businessman pleads guilty in tax case

Federal prosecutors say the former owner of a Rochester scrap metal business has pleaded guilty to lying on his tax returns and has paid the government millions of dollars in restitution.

U.S. Attorney William J. Hochul, Jr. announced Tuesday that 64-year-old John Gizzi of Rochester pleaded guilty in federal court to filing false tax returns in 2008 and 2009. Hochul says his company, Rochester Machinery Suppliers, also pleaded guilty to aiding and abetting the preparation of a false tax return.

Prosecutors say Gizzi evaded paying more than $1.9 million in federal income taxes. They say he also failed to report nearly $2.2 million in income from rent and other revenues generated by his several business entities.

Gizzi faces a maximum sentence of six years in prison, a $500,000 fine, or both, when he’s sentenced Nov. 4.