An insurance broker based in Hingham, MA has been sentenced to more than half a year in jail for failing to report almost $400,000 in income.
Massachusetts U.S. Attorney Andrew E. Lelling released a statement revealing that Dover resident Anthony J. May, 62, was sentenced by US District Court Judge William G. Young to eight months in prison, as well as one year of supervised release.
May operated Clients First Financial and Advantage Life Settlements in Hingham. His business was located in an office suite on Sharp Street, and he also leased space to other independent insurance agents.
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He was a former
MetLife agent who sold life insurance policies through Clients First while broking the sale of policies to third-party investors via Advantage Life.
Last April, a federal jury convicted May of two counts of filing false tax returns – failing to report “substantial amounts” of commissions, broker fees, and business rental income on both his personal tax returns for the years 2008 and 2009.
The Patriot Ledger reported that May’s unreported income for those two years totaled $396,554.
May was indicted by a federal grand jury in April 2016 and was arrested by IRS agents in his office. The US Attorney’s economic crimes unit – then under the administration of Carmen Ortiz – prosecuted the case.
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