Genovese Wiseguy Sally Demeo Cops to Tax Evasion

Reputed Genovese soldier Sal (Sallie) Demeo pleaded guilty to attempted tax evasion today in Brooklyn Federal Court.

Sally DeMeo, alleged Genovese wiseguy.

Prosecutors charged that DeMeo had earned $2 million in profit in 2013 and 2014 when he sold shares in several downtown Brooklyn properties he inherited from his father in 1991. He's in trouble because he failed to report the capital gains on his tidy windfall.

DeMeo and others with shares in the properties -- located along Atlantic Ave., Pacific St., Bond St., and Schermerhorn St. -- sold off the lots for $18.2 million in total.

Demeo, 78, had his proceeds whacked into eight separate checks, which he then deposited into accounts that weren't his. For example, he put $1 million into the account of a plumbing business operated by another Genovese crime family member, according to court papers.

He also gave around $350,000 to someone who ran an unlicensed check cashing business, which funneled the money back to him for a fee.
"I was aware I was responsible for paying these taxes," Demeo told Magistrate Judge Vera Scanlon during the proceeding today, according to the Daily News.

Demeo must pay more than $367,000 in owed taxes to the government as per the plea deal today.

The charges aren't mob-related, but a month before his October 2017 arrest, Demeo was sentenced to five years' probation in Brooklyn Supreme Court. Demeo had previously pleaded guilty to his role in a loansharking and gambling ring.

He is slated for sentencing in October on the tax charges and as per federal guidelines, he faces around two years in prison.

"We're hoping for a lenient sentence for a man in the golden years of his life," his attorney told the News today.