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Failed recycling boss guilty of $385k tax rort
A former Ferrari-driving recycling boss whose taxpayer-funded companies collapsed causing more than $10m in losses has pleaded guilty to ripping off the taxman.
In barely audible pleas yesterday at the Auckland District Court Joseph Capizzi admitted to two charges of misusing deductions made for PAYE and other tax for his companies RCN E-Waste and RCN & Associates.
The offending, covering eight months between November 2013 and the firms' collapse in June 2014, totalled $385,495.
Capizzi, 60, is scheduled to be sentenced on April 13 and the charges carry a maximum penalty of five years in prison.
Read the full article by Matt Nippert > New Zealand Herald - nzherald.co.nz