Projo 7 to 7 News Blog

COVENTRY, R.I. -- A Coventry man pleaded guilty Thursday in U.S. District Court of Connecticut to tax evasion and mail fraud.

Michael Young, 35, of Goldfinch Drive, and another man, Todd Olynciw, arranged for The Hartford Insurance Co. to award more than $3.6 million in contracts to a cleaning business in exchange for personal payments and kickbacks between 2001 and July 2005.

Young and Olynciw,a project manager at the insurance company, also gave the cleaning company furniture that was owned by the insurance company, so that it could be sold for roughly $2.05 million in profits. In exchange for orchestrating the fraud, Young paid Olynciw at least $207,783.41 in kickbacks in cash, checks, gifts, and other payments.

Young faces a maximum term of 20 years in prison for mail fraud, and up to 5 years in prison for tax evasion. He could also be fined $250,000 and must pay $587,834 in restitution to The Hartford Insurance Co. and $507,861 in backtaxes to the IRS. Olynciw was already sentenced to 28 months in prison for his role in the fraud.

Sentencing is scheduled for Sept. 10 before Judge Alfred V. Covello.

 Tags  Connecticut coventry Coventry RI

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