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Money

Michael Logan of Michael’s Cucina Italia in Manalapan facing prison for filing false tax returns

Michael Logan of Michael’s Cucina Italia in Manalapan facing prison for filing false tax returns

A Jackson man made his first appearance in Trenton Federal court following a nine-count indictment by a Federal grand jury last week on charges he filed fraudulent federal and personal income tax returns, the U.S. Attorney's Office said.

Counts one through four accuse Michael Logan, owner of Michael's Cucina Italia in Manalapan, of filing false corporate returns for calendar years 2004 through 2007. Counts six through nine accuse the 44-year-old of filing false returns on his personal income tax returns for 2004 through 2007.

According to the indictment, Logan maintained a ledger that detailed all of the restaurant's sales, but did not use the ledger when preparing his corporate, partnership, or personal tax returns. Instead, he relied on information from a business bank account, which did not reflect an accurate accounting of the restaurant's business earnings since Logan did not deposit all of the restaurant’s earnings into the business bank account.

 

Millions of New Jerseyans due share of $32 billion in unclaimed money

Millions of New Jerseyans due share of $32 billion in unclaimed money
BY BOB HOLT
NEWJERSEYNEWSROOM.COM

Believe it or not, New Jersey has millions of people who have unclaimed funds totaling billions of dollars.

According to the Unclaimed Property Act of New Jersey, the un...

Seven New Jersey banks seeking $116 million in federal funds for small business loans

Seven New Jersey banks seeking $116 million in federal funds for small business loans

With a filing deadline March 31, seven state-chartered banks have applied for a total of $116 million from the federal Small Business Lending Fund (SBLF), which is making $30 billion available nationa...

Report: N.J. tourism is up; 67.7 million tourists visited last year

Report: N.J. tourism is up; 67.7 million tourists visited last year

Visitors spent $35.5 billion, $4 billion less than pre-recession year of 2007

Tourists visiting New Jersey’s spent $35.5 billion in 2010, a 0.8 percent increase over 2009, according to data released Th...

N.J. Labor Officials: 7,500 found work last month but unemployment at 9.2 percent

N.J. Labor Officials: 7,500 found work last month but unemployment at 9.2 percent

3.8 million residents employed, 399,500 jobless

BY TOM HESTER SR.
NEWJERSEYNEWSROOM.COM

While at least 7,500 New Jerseyans found work in February, the state’s unemployment rate, however, edged up by 0.1 ...

Why big banks are afraid of credit unions

Why big banks are afraid of credit unions
BY ROHIT AHORA
COMMENTARY

A bill introduced by Sen. Mark Udall (D-CO) earlier this month would enable credit unions to increase their small business lending, which is now capped at 12.25 percent of asse...

Mega Millions clears $300 million mark, making history

Mega Millions clears $300 million mark, making history
BY BOB HOLT
NEWJERSEYNEWSROOM.COM

Many of us would be thrilled to win its opening $12 million. But the Mega Millions jackpot is reaching the rarified air of one of the largest prizes ever seen in the Un...

'Grandparent scam' has targeted over 1,500 unsuspecting seniors in N.J.

'Grandparent scam' has targeted over 1,500 unsuspecting seniors in N.J.

Scammer calls to say grandchild in trouble; send money, don't tell mom

Con men and women call it the Grandparent Scam.

It typically begins with a seemingly urgent phone call to an unsuspecting senior ci...

The new mortgage foreclosure settlement and what it will mean for you

The new mortgage foreclosure settlement and what it will mean for you
BY AVI FRISCH
NEWJERSEYNEWSROOM.COM

Late last week, large banks and a special counsel appointed by the Presiding Judge of the Mercer County Court supervising foreclosures, Judge Mary Jacobson, announced...

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