Tecademics co-founder Jim Piccolo (aka James Philip Piccolo), has been sentenced to 18 months in jail.
Piccolo was charged with tax fraud in January 2023. As alleged by the DOJ;
JAMES PICCOLO was the co-owner and operator of Tecademics, LLC (“Tecademics”), a enterprise situated in Scottsdale, Arizona.
JAMES PICCOLO exercised management over Tecademics’s enterprise affairs, together with approving funds by the corporate and controlling all of Tecademics’s financial institution accounts.
Always related to this data, JAMES PICCOLO was a “accountable particular person,” that’s, he had the company duty to gather, in truth account for, and pay over Tecademics’s payroll taxes.
JAMES PICCOLO collected revenue taxes and Federal Insurance coverage Contributions Act (“FICA”) taxes from Tecademics workers by withholding these quantities from the staff’ paychecks.
On or about June 5, 2017, within the District of Arizona, JAMES PICCOLO did willfully fail to in truth pay over to the Inside Income Service the entire federal revenue taxes withheld and FICA taxes due and owing to the USA on behalf of Tecademics and its workers, for the primary quarter of 2017.
All in violation of Title 26, United States Code, Part 7202.
Piccolo (proper) initially pled not responsible on January tenth. Later that very same day nevertheless he modified his plea to responsible.
As a part of Piccolo’s responsible plea, he agreed to pay $651,478 in restitution.
Following a number of delays, on September twenty eighth Piccolo was sentenced to 18 months in jail. The agreed $651,478 in restitution was additionally ordered, in addition to a $10,000 advantageous.
Piccolo has been ordered to give up himself to U.S. Marshals by January 2nd, 2024 to start his sentence.
Tecademics’ run as an MLM firm was short-lived.
Tecademics launched in 2016 with co-founder Chris File (proper) because the face of the corporate.
I ran a search on Chris File nevertheless it appears he hasn’t been charged with something.
Tecademics bought a $100 a month subscription, in addition to $2000 and $10,000 web advertising and marketing programs.
In early 2018 Tecademics was bought to Piccolo via his firm IQup. The MLM alternative was discontinued.
Right now Tecademics’ web site remains to be on-line. The corporate itself nevertheless seems to have long-since collapsed.
Tecademics’ Fb web page was deserted in January 2018. SimilarWeb tracked simply 875 visits to Tecademics’ web site in August 2023.
With Piccolo heading to jail, little question what was left of Tecademics will disappear.