A Nahant woman and a Winthrop man have entered guilty pleas to wire fraud and tax evasion charges in a Boston federal court today. Gary P. DeCicco, 65, and Pamela M. Avedisian, 61, each admitted to one count of conspiracy to commit wire fraud and one count of conspiracy to defraud the United States, as reported by the U.S. Department of Justice. The sentencing for DeCicco is set for September 18, 2024, while a sentencing date for Avedisian remains to be scheduled.
According to the indictment, between April 2012 and February 2013, DeCicco misrepresented his finances to the IRS, claiming he was unable to pay over $340,000 in tax liabilities. During this time, DeCicco was found to quickly have ownership interests in various businesses, vehicles, and real properties. These assets were often registered in the names of Avedisian, Lynnway Auto Sales Inc., and other entities, secretly shielding them from the IRS. Upon approval of DeCicco’s payment plan by the IRS—established on inaccurate financial disclosures—he and Avedisian further concealed their assets and income through various purchases and sales.
The duo also conspired in a fraudulent short sale of Avedisian's Nahant property in October 2015. The sale, which was supposed to be a transaction at arm's length, was misrepresented as needing to happen due to Avedisian's supposed inability to continue payments. However, it was discovered that she had, just two months prior, allegedly received $3.5 million from selling another asset to DeCicco. Their deception was aimed at the loan service company, with whom they concealed their long-term romantic and business relationship, as well as their financial condition.
The conspiracy charges each carry a maximum penalty of five years in prison, three years of supervised release, and a fine of up to $250,000. Sentences are ultimately determined by a federal district court judge, based on the U.S. Sentencing Guidelines and other statutory factors. Acting United States Attorney Joshua S. Levy, alongside officials from the FBI and IRS Criminal Investigation, oversaw the announcement of the guilty pleas. Assistant U.S. Attorneys Kristina E. Barclay and Neil J. Gallagher, Jr. of the Public Corruption & Special Prosecutions Unit are to actively prosecute the case.
