BOSTON — Pamela M. Avedisian, 61, of Nahant, and Gary P. DeCicco, 65, of Winthrop, were sentenced in federal court for wire fraud and tax evasion, according to a press release from U.S. Attorney for the District of Massachusetts Joshua S. Levy.
The two were indicted by a federal grand jury in January 2018, according to the release. Avedisian’s sentence was one year of supervised release, with the first four months being served in home confinement. DeCicco’s sentence was 15 months in prison, which he has served, followed by three years of supervised release. The two have been ordered to pay $425,754 in restitution and to forfeit $650,000.
Through April 2012 to February 2013 DeCicco concealed assets from the IRS, claiming he did not have the ability to pay his more than $340,000 tax liability and he had no vehicles or real property, and no ownership interest in assets with positive valuem according to the release.
“However, DeCicco had ownership interests in several businesses, vehicles, and real properties titled in his name and the name of Avedisian and others, in order to conceal those assets from the IRS during that time period,” according the release.
After gaining approval from the IRS under the false pretenses that he could not pay his tax liability, DeCicco would buy and sell a number of real properties, boats, and high-end cars and concealed the assets and his income from the IRS with the assistance of Avedisian, according the release.
Avedisian planned to “short sale” a property she owned in Nahant that was subject to a more than $1 million mortgage. By short selling the property she hoped to cede ownership of the property and get released from the unpaid mortgage debt, according the release.
“In order to get approval for the sale, DeCicco and Avedisian concealed their long-term romantic and business relationship from the loan servicing company and falsely represented that Avedisian could no longer make payments towards the mortgage on the property,” according to the press release.
Avedisian and DeCicco pled guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to defraud the United States in June 2024, according to the press release.
United States Attorney Joshua S. Levy, Jodi Cohen, special agent in charge of the Federal Bureau of Investigation, Boston Division, and Jonathan Wlodyka, acting special agent in charge of the Internal Revenue Service Criminal Investigation, Boston Field Office made the announcement on Monday. Assistant U.S. Attorneys Kristina E. Barclay and Neil J. Gallagher, Jr. of the Public Corruption & Special Prosecutions Unit prosecuted the case.
