Auto Body Shop Owner Cheated City and State of $135K in Taxes, DA Says
PORT RICHMOND — The owner of a Port Richmond auto body shop was arrested for cheating the city and state out of more than $135,000 in taxes over three years, District Attorney Dan Donovan announced Monday.
Richard Corio, 56, repeatedly underreported taxes since 2009 while president of Absolute Car Carriers, Inc., which did business as OK Auto Body and Auto Collision, Inc. at 41 Barker St., the DA said.
“The defendant ripped off the city and state all while operating a lucrative business,” Donovan said in a statement. “It was his duty as a business owner and Staten Island citizen to pay his city and state taxes, and he chose to ignore that responsibility. Now, the defendant must pay up and face the appropriate punishment.”
Corio was arrested earlier this month and charged with several counts of grand larceny and criminal tax fraud. He was released on his own recognizance at his arraignment, and is due back in court on Dec. 16, the DA said.
His lawyer, Joseph Sorrentino, did not respond to a request for comment.
Over the three years, Corio reported only $700,000 in sales, while his business actually grossed over $1 million, the DA said.
In addition, Corio also only paid $500 for his NYC General Corporation Tax, while owing $53,790, prosecutors said.
From March 2009 to February 2012, Corio also did not file sales tax, and in 2011 underreported his personal income tax, the DA said.
And despite the fact that he lived in New Jersey, Corio did not file the required non-resident tax return for doing business in New York, prosecutors added.
Corio owes $77,664 in sales tax liability and $11,179 in personal income tax liability, the DA said.
If convicted, he faces up to 15 years in prison.