BEACHWOOD – A local chiropractor, who lives in Beachwood and practiced in Lakewood, will serve 5 years in prison for tax evasion and failing to disclose a Russian bank account.
Dr. Carlo Amato plead guilty to the federal charges in September and his plea agreement with the Court was announced on Tuesday.
Dr. Amato wired in excess of $1.5 million to a Russian UniCredit Bank account. Amato admitted to receiving the funds from overbilling insurance companies by more than $1 million for services he never provided. He also evaded close to $500,000 in taxes between 2012-2015.
Amato, as part of his plea agreement, will pay the taxes he owes and file accurate reports, in addition to his prison sentence and three years of supervised release.