He told investigators his businesses had not been profitable in recent years.
A review of the joint federal tax return he and his wife filed in 2019 showed the couple reported only $70,200 in wages to the IRS and another $20,174 in business income.
But the Closter man, who allegedly operated several massage-related businesses in New Jersey, was not without means. According to subpoenaed financial records, he had purchased a $72,500 Porsche Cayenne in the name of one of his companies. In the financing application for the luxury vehicle, he stated his annual income was $250,000 with an annual bonus of $30,000. At the time, he was also paying $925 a month to Mercedes-Benz and living in a home appraised at more than $1.5 million and had transferred over $771,000 into a secretive Coinbase cryptocurrency account in 2021.
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