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PHILADELPHIA — The owners and managers of the popular Nifty Fifty’s restaurant chain have been indicted on federal tax evasion charges for allegedly failing to pay taxes on more than $15 million in cash from customers’ tabs.

Leo McGlynn, 52, of Swarthmore, Robert D. Mattei, 73, of Delray Beach, Fla., Brian Welsh, 48, and Joseph Donnelly, 49, both of Springfield, and Elena Ruiz, 46, of Drexel Hill — the owners and managers of Nifty Fifty’s on MacDade Boulevard in Ridley Township and four other locations — are charged with conspiracy to commit tax evasion and tax evasion.

They could spend decades in prison and be ordered to pay millions in fines if convicted of skimming $15.6 million in receipts and failing to pay $2.2 million in federal employment and personal taxes.

Federal authorities allege that since the first restaurant opened in Delaware County in 1986, the defendants evaded paying taxes on $15.6 million in cash receipts and hid cash in personal safes and safe deposit boxes.

The defendants allegedly used the unreported cash to pay some suppliers and part of their employees’ wages. They also allegedly inflated expenses and deductions and filed false tax returns that under-reported income.

Mattei, McGlynn, Donnelly and Welsh are also alleged to have committed bank fraud by submitting bogus income tax returns to secure $2.28 million in business loans from Sovereign Bank. McGlynn and Donnelly are also charged with funneling cash into a bank account to avoid federal reporting requirements.

“Owning your own business is part of the American dream. But with that dream comes responsibilities, including paying your fair share of federal taxes,” U.S. Attorney Zane David Memeger said. “It is alleged that these defendants conspired to disregard their responsibilities, to the tune of over $15 million, so they could enrich themselves at the expense of all the hardworking Americans who follow the rules and pay their taxes.”

The defendants opened their first retro restaurant at the corner of MacDade Boulevard and Route 420 in the Folsom section of Ridley Township in 1986.

Long popular with locals, the owners expanded their business, eventually opening restaurants in Northeast Philadelphia, Bensalem and Turnersville, N.J., and Clementon, N.J.

Mattei and McGlynn were equal partners when they started the business. They subsequently hired Welsh and Donnelly as head managers and Ruiz — Mattei’s daughter — as office manager. Continued...

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PHILADELPHIA — The owners and managers of the popular Nifty Fifty’s restaurant chain have been indicted on federal tax evasion charges for allegedly failing to pay taxes on more than $15 million in cash from customers’ tabs.

Leo McGlynn, 52, of Swarthmore, Robert D. Mattei, 73, of Delray Beach, Fla., Brian Welsh, 48, and Joseph Donnelly, 49, both of Springfield, and Elena Ruiz, 46, of Drexel Hill — the owners and managers of Nifty Fifty’s on MacDade Boulevard in Ridley Township and four other locations — are charged with conspiracy to commit tax evasion and tax evasion.

They could spend decades in prison and be ordered to pay millions in fines if convicted of skimming $15.6 million in receipts and failing to pay $2.2 million in federal employment and personal taxes.

Federal authorities allege that since the first restaurant opened in Delaware County in 1986, the defendants evaded paying taxes on $15.6 million in cash receipts and hid cash in personal safes and safe deposit boxes.

The defendants allegedly used the unreported cash to pay some suppliers and part of their employees’ wages. They also allegedly inflated expenses and deductions and filed false tax returns that under-reported income.

Mattei, McGlynn, Donnelly and Welsh are also alleged to have committed bank fraud by submitting bogus income tax returns to secure $2.28 million in business loans from Sovereign Bank. McGlynn and Donnelly are also charged with funneling cash into a bank account to avoid federal reporting requirements.

“Owning your own business is part of the American dream. But with that dream comes responsibilities, including paying your fair share of federal taxes,” U.S. Attorney Zane David Memeger said. “It is alleged that these defendants conspired to disregard their responsibilities, to the tune of over $15 million, so they could enrich themselves at the expense of all the hardworking Americans who follow the rules and pay their taxes.”

The defendants opened their first retro restaurant at the corner of MacDade Boulevard and Route 420 in the Folsom section of Ridley Township in 1986.

Long popular with locals, the owners expanded their business, eventually opening restaurants in Northeast Philadelphia, Bensalem and Turnersville, N.J., and Clementon, N.J.

Mattei and McGlynn were equal partners when they started the business. They subsequently hired Welsh and Donnelly as head managers and Ruiz — Mattei’s daughter — as office manager. Continued...

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PHILADELPHIA — The owners and managers of the popular Nifty Fifty’s restaurant chain have been indicted on federal tax evasion charges for allegedly failing to pay taxes on more than $15 million in cash from customers’ tabs.

Leo McGlynn, 52, of Swarthmore, Robert D. Mattei, 73, of Delray Beach, Fla., Brian Welsh, 48, and Joseph Donnelly, 49, both of Springfield, and Elena Ruiz, 46, of Drexel Hill — the owners and managers of Nifty Fifty’s on MacDade Boulevard in Ridley Township and four other locations — are charged with conspiracy to commit tax evasion and tax evasion.

They could spend decades in prison and be ordered to pay millions in fines if convicted of skimming $15.6 million in receipts and failing to pay $2.2 million in federal employment and personal taxes.

Federal authorities allege that since the first restaurant opened in Delaware County in 1986, the defendants evaded paying taxes on $15.6 million in cash receipts and hid cash in personal safes and safe deposit boxes.

The defendants allegedly used the unreported cash to pay some suppliers and part of their employees’ wages. They also allegedly inflated expenses and deductions and filed false tax returns that under-reported income.

Mattei, McGlynn, Donnelly and Welsh are also alleged to have committed bank fraud by submitting bogus income tax returns to secure $2.28 million in business loans from Sovereign Bank. McGlynn and Donnelly are also charged with funneling cash into a bank account to avoid federal reporting requirements.

“Owning your own business is part of the American dream. But with that dream comes responsibilities, including paying your fair share of federal taxes,” U.S. Attorney Zane David Memeger said. “It is alleged that these defendants conspired to disregard their responsibilities, to the tune of over $15 million, so they could enrich themselves at the expense of all the hardworking Americans who follow the rules and pay their taxes.”

The defendants opened their first retro restaurant at the corner of MacDade Boulevard and Route 420 in the Folsom section of Ridley Township in 1986.

Long popular with locals, the owners expanded their business, eventually opening restaurants in Northeast Philadelphia, Bensalem and Turnersville, N.J., and Clementon, N.J.

Mattei and McGlynn were equal partners when they started the business. They subsequently hired Welsh and Donnelly as head managers and Ruiz — Mattei’s daughter — as office manager. Continued...

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The BSE Sensex fell over 200 points in early trade Friday amid a global selloff in risk assets. The Nifty index was down over 60 points and closed in on the 4,800 level.

All groups of stocks traded lower on the BSE. State run gas explorer ONGC was the lone gainer on the Nifty 50 index. Analysts said the bounce back witnessed yesterday proved short lived and markets are headed lower.

"The fact that the bounce did not last for even two sessions, indicates medium term targets around 4,000-4,200," independent analyst Sarvendra Srivastava said.

Global stocks came under selling pressure after ratings agency Moody's downgraded 16 Spanish banks citing a weak economy and the government's reduced ability to support troubled lenders. Asian markets traded with deep cuts, with markets in South Korea (-2.65%) and Japan (-2.45%) leading the losses.

Data from the US indicated that manufacturing contracted in the mid-Atlantic region for the first time in eight months. The Dow Jones index fell 156 points to 12,442.

Mumbai: The BSE Sensex and NSE Nifty showed a nice rebound in late trade on Friday led by outstanding performance by SBI in fourth quarter numbers and sharp recovery in rupee from record low to near previous close. However, the global markets stayed under pressure due to eurozone concerns and weak US data.

Short covering helped markets close 0.4 per cent higher on Friday. The BSE benchmark rose 82.27 points or 0.51 per cent, to close at 16,152.75 after seeing recovery of more than 300 points from intraday low of 15,809.71.

The NSE benchmark fell below the 4800 level to hit a low of 4,788.95 during the day, before closing at 4,891.45, up 21.25 points or 0.44 per cent led by support from banks, oil & gas, FMCG, steel and technology stocks. Index touched an intraday high of 4,908.50 in late trade.

The Indian rupee too bounced back quite smartly to 54.56 a dollar from record low of 54.89 a dollar, but still down 9 paise from previous close of 54.47 a dollar. Currency has fallen due to sliding euro and other Asian currencies due to Eurozone turmoil.

The BSE Sensex and the NSE Nifty look set to open gap down Friday as global cues worsened overnight, leading to another selloff in risk assets. At 08.10 am, the Nifty futures on the Singapore Exchange, traded 77 points or 1.6 per cent lower at 4,765.

Negative global news has driven stock prices down and the Sensex has lost over 1,000 points in May. The Nifty, too, is trading well below long term supports.

"The trading window has narrowed... we maintain targets of 4,650-4,700 for the Nifty," independent analyst Sarvendra Srivastava told NDTV Profit.

Japan's Nikkei share average dropped sharply today with securities hammered by fears of contagion from Spain's ailing bank system and a strong yen pushed down exporters.

The Nikkei dropped 2.4 percent to 8,652.04, having dropped through support at 8,800. The broader Topix followed suit with a 2.5 percent fall to 728.81.

"Almost everybody is trading for no longer than a couple of days now and the hedge funds are trying to make hay out of this by shorting stocks aggressively," said a trader at a foreign bank. "They just have the market to themselves and can knock stocks down because there's nobody to support them."

Concerns of a weakening banking sector in Spain could negatively impact its counterpart in Japan and pulled securities down 4.3 percent, with Nomura Holdings losing 4.2 percent.

Banks were also weighed on by a Fitch Ratings report that the world's top 29 banks may need a total $566 billion to meet tougher new capital rules, cutting returns by a fifth and forcing them to curb investor payouts and raise customer charges.

"Even though Japanese stocks are reasonably priced at the moment, fears about Europe are intensifying, and the strong yen won't help matters," said Hiroichi Nishi, equity general manager at SMBC Nikko Securities.

Weak U.S. data overnight contributed to the overall bearish atmosphere.

The euro dropped to a 3-1/2 month low and the dollar went back under 80 yen, sending exporters tumbling. Toyota Motor Co dropped 3.7 percent and was the most heavily traded stock by turnover on the main board. Nikon Corp shed 5.7 percent, underperforming its peers after Nomura downgraded its rating on the camera maker to "neutral" from "buy" and slashed its price target to 2,667 yen from 2,914.

With inputs from Reuters

PHILADELPHIA - Robert Mattei, Leo McGlynn, Brian Welsh, Joseph Donnelly, and Elena Ruiz - the owners and managers of the “Nifty Fifty’s” restaurant chain - were charged today in a tax evasion conspiracy that cheated the Internal Revenue Service by failing to properly account for more than $15 million in gross receipts.

The case was announced by United States Attorney Zane David Memeger, IRS Acting Special Agent-in-Charge Akeia Connor with the Criminal Investigation Division, and FBI Special Agent-in-Charge George C. Venizelos. The defendants - Mattei, 73, of Del Ray Beach, Florida, McGlynn, 52, of Swarthmore, PA, Welsh, 48, of Springfield, PA, Donnelly, 49, of Springfield, PA, and Ruiz, 46, of Drexel Hill, PA - are charged with conspiracy to commit tax evasion, and tax evasion, for allegedly constructing a long-running scheme to avoid paying millions of dollars in personal and employment taxes as related to their restaurant chain.

The information alleges that the defendants not only evaded paying the taxes they owed, they filed income tax returns claiming they were due refunds based on the erroneous reporting of their incomes. Mattei, McGlynn, Donnelly, and Welsh are also charged with bank fraud; and McGlynn and Donnelly are also charged with aggravated structuring of financial transactions.

According to the information, the defendants have evaded paying taxes since the restaurant was established in 1986 by, among other things, paying employees a portion of their wages with unreported cash in order to evade payroll taxes; paying suppliers with unreported cash; and having false tax returns prepared that under-reported income and falsely inflated expenses and deductions. Just between the years 2006 and 2010, it is alleged the defendants deliberately failed to properly account for $15.6 million in gross receipts, thereby evading $2.2 million in federal employment and personal taxes.

“Owning your own business is part of the American dream. But with that dream comes responsibilities, including paying your fair share of federal taxes,” said Memeger. “It is alleged that these defendants conspired to disregard their responsibilities, to the tune of over $15 million, so they could enrich themselves at the expense of all the hardworking Americans who follow the rules and pay their taxes.”

It is further alleged that in the course of their conspiracy, defendants Mattei, McGlynn, Donnelly, and Welsh committed bank fraud by submitting to the bank bogus income tax returns in order to secure several business loans; and that defendants McGlynn and Donnelly structured numerous cash deposits of undeclared income into a bank account in an effort to avoid federal reporting requirements.

“The charges announced today are the result of a lengthy and complex financial investigation involving Nifty-Fifty restaurants,” said Acting Special Agent-in-Charge of IRS-Criminal Investigation Akeia Conner. “These charges summarize a scheme in which millions of dollars in income were skimmed from a successful business in order to evade paying taxes on the income. IRS-Criminal Investigation is committed to investigating these types of tax fraud schemes in order to build faith in our nation's tax system and to ensure that everyone is paying their fair share. It is important to remember that tax evasion is not a victimless crime and the honest taxpayers suffer when others cheat the government.”

If convicted, Mattei and Welsh face a maximum sentence of 40 years of imprisonment, five years of supervised release, a fine of up to $1.5 million, full restitution to the IRS, and a $300 special assessment. If convicted, McGlynn and Donnelly face a maximum sentence of 50 years of imprisonment, five years of supervised release, a fine of up to $2 million, full restitution to the IRS, and a $400 special assessment. If convicted, Ruiz faces a maximum sentence of ten years of imprisonment, three years of supervised release, a fine of up to $500,000, full restitution to the IRS, and a $200 special assessment.

This case was investigated by the Internal Revenue Service Criminal Investigation Division and the FBI. It is being prosecuted by Assistant United States Attorneys Paul G. Shapiro and Nancy E. Potts.

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JACKSONVILLE, Fla. -- It's a dilemma faced by military families across the country: a family member is about to be deployed, but how do you keep them included in life back home? One First Coast Navy wife has found creativity is the key.

Tiffany Knight's husband Donnie is assigned to a Naval Station Mayport helicopter squadron.  When he was getting ready to deploy with the USS Nitze, she wanted to find a way to keep her husband around the house.

She found a website called flatdaddies.com. The website sells life-sized photos of deployed service members (and yes, there are flat mommies as well). Tiffany knew a "flat daddy" of Donnie would be a great way to keep him present in the household. She sent off a picture of Donnie and got the life-sized flat daddy in the mail.

Tiffany said she chose to hang it in the hallway for the kids.  One-year-old Sophia, two-year-old Dylan and nine-year-old Zachary interact with flat daddy, telling him they love him and even kiss him. It's a visual reminder every day that their dad is still there, even though he isn't physically there.

But it doesn't stop with reminding the people at home about their deployed loved one. It's also about reminding those deployed about their ones back home. Once again, creativity prevailed.

Tiffany said she sends themed care packages to her husband.  Getting her three kids to doodle on the boxes, she comes up with a different theme for each package.

One care package was themed "we're going nuts without you."  The box included different flavors of nuts. Another was "we're going bananas without you." Tiffany filled that one with an airtight, sealed jar of monkey bread (Tiffany said it was perfect when it arrived), some banana pudding and a batch of banana oatmeal cookies.

The family even found a way to keep Donnie included in a typical day. So they took a picture of everything they did in a 24-hour period from the time they woke up to the time they went to bed. When they brushed their teeth that morning, they took a picture and sent Donnie a toothbrush. Then they mowed the lawn, so they sent some grass clippings to go along with the photo.

But when Donnie heard Tiffany and a few friends were heading to Churchill Downs for the Kentucky Derby, he was a little jealous he couldn't go too. Once again, Tiffany decided to be creative.

She went back to the website and ordered a second flat daddy.  This one was not to hang in their home but to take along with her to the Derby. Her very own version of a "flat Stanley" but more of a "flat sailor."

A second Navy wife decided to fashion her own "flat husband" to take along on the road trip too. The pair of Navy wives and a friend loaded up the car and drove from Jacksonville to Kentucky.

When they got there, they were greeted by support from all the other spectators. Tiffany said people were giving both the flat sailors high fives, even posing for pictures with them.

Tiffany said her first trip to the Kentucky Derby was a memorable one. She said the mint julep was delicious.

What did Donnie's shipmates think of his wife taking a flat version of him on a road trip to Kentucky? Tiffany said some of the guys thought it was a little weird. But Donnie really liked it and in the end, that's the only person whose opinion really mattered.

Donnie's deployed for the next few months as part of an air detachment aboard the USS Nitze, working on helicopters. While he's gone, Tiffany said she is going to keep coming up with new and unique ways to keep him a part of the family's lives and to keep the family a part of his.

First Coast News