Michael Silverstein of New Jersey faces serious problems after being arraigned in Queens Criminal Court in New York City on charges of first-degree criminal possession of stolen property, first-degree grand larceny, violation of tax law 1817 (A), and first degree offering a false instrument for filing. In a second criminal complaint, he is charged with third degree criminal possession of stolen property, first-degree filing a false instrument for filing, first degree falsifying business records, tax fraud, and first-degree scheme to defraud.
Silverstein operated several car dealerships in Queens and is accused of stealing more than $1,2 million in New York State sales tax, which he allegedly collected from his customers but never send to the State Department of Taxation and Finance. Also, according to the government, Silverstein filed papers with the DMV showing that the sales were wholesale, not requiring the collection of sales tax, while all the purchases were in fact retail.
If convicted of these crimes, Silverstein faces up to 25 years in prison.