A Chelsea business owner has been arrested and charged with tax evasion and COVID-19 loan fraud following an alleged scheme spanning five years. Helcio Sperandio, 52, who owns Aquarelle Painting & Services, was indicted by a federal grand jury in Boston on charges that include filing false tax returns, tax evasion, and wire fraud.
Authorities allege that from 2018 to at least 2022, Sperandio cashed hundreds of customer payment checks instead of depositing them into his business bank accounts. Prosecutors say he provided only his business’s bank statements to his tax preparer but withheld information about the cashed checks. This resulted in underreported income on both corporate and individual tax returns and allowed Sperandio to evade over $2.3 million in federal income taxes.
It is also alleged that during the COVID-19 pandemic, Sperandio obtained a $150,000 Economic Injury Disaster Loan (EIDL) from the Small Business Administration by providing false revenue numbers and certifying he was not engaged in illegal activity while allegedly defrauding the U.S. Treasury. He later secured an additional $277,500 loan increase from the SBA and used part of those funds to start a new real estate company—a use not permitted under EIDL program rules.
If convicted, Sperandio faces up to three years in prison for filing a false tax return, up to five years for tax evasion, and up to 20 years for wire fraud. Each charge carries potential fines of $250,000 or more as well as supervised release terms. Sentencing will be determined by a federal district court judge according to statutory guidelines.
“United States Attorney Leah B. Foley; Thomas Demeo, Special Agent in Charge of the Internal Revenue Service-Criminal Investigation Boston Field Office; and Ketty Larco-Ward, Inspector in Charge of the Boston Division of the United States Postal Inspection Service made the announcement today.” Assistant U.S. Attorney Kriss Basil is prosecuting the case.
The Department of Justice established the COVID-19 Fraud Enforcement Task Force on May 17, 2021 to coordinate efforts against pandemic-related fraud across government agencies (https://www.justice.gov/coronavirus/combatingfraud). The task force aims to identify fraudulent actors and schemes by improving coordination among agencies administering relief programs.
Anyone with information regarding attempted COVID-19 fraud can contact authorities through the National Center for Disaster Fraud Hotline or via its online complaint form.
The allegations outlined are accusations only; Sperandio is presumed innocent unless proven guilty beyond reasonable doubt.
