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Financial Crimes
04/04/2013

Coin dealer indicted on federal tax charges

NEW YORK – A coin dealer was indicted Tuesday on charges of aiding and assisting in the filing of false federal income tax returns. The indictment is a result of an investigation by U.S. Immigration and Customs Enforcement's (ICE) Homeland Security Investigations (HSI), the Internal Revenue Service (IRS) and the FBI.

Gantcho Zagorski, 59, formerly of Hackensack, N.J., was charged with aiding and assisting in the filing of false federal income tax returns for calendar years 2006, 2007 and 2008. A date for Zagorski's arraignment will be scheduled once the case has been assigned to a federal district judge in the District of New Jersey. Each of the three tax counts carries a maximum penalty of three years in prison and a $250,000 fine.

According to the indictment, Zagorski owned and operated a business that sold ancient coins to domestic and international customers, primarily on eBay, from his residence in Hackensack.

Zagorski, along with his wife and – at times – his daughter, operated the coin-selling business under the names: Diana Coins, Paganecoins and Diana Coins LLC.

For calendar years 2006, 2007, and 2008, Zagorski provided his tax preparer with false and fraudulent information by understating the amount of gross receipts and sales earned by his business. Zagorski then filed with the IRS those federal income tax returns for 2006, 2007 and 2008, which contained false and fraudulent information.