CHELSEA, Mass. — Prosecutors have charged the owner of a Chelsea painting company with orchestrating a years-long scheme to evade more than $2.3 million in federal income taxes while also fraudulently securing hundreds of thousands of dollars in COVID-19 relief funds.
Helcio Sperandio, 52, of Chelsea, was arrested Thursday after a grand jury in Boston indicted him on counts of filing false tax returns, tax evasion and wire fraud.
According to charging documents, Sperandio, who owned and operated Aquarelle Painting & Services, allegedly cashed hundreds of customer checks between 2018 and 2022 rather than depositing them into business accounts.
Prosecutors say he then provided only bank statements to his tax preparer, omitting the cashed checks and causing his income to be significantly underreported, ultimately allowing him to evade more than $2.3 million in federal taxes.
Authorities further allege that during the pandemic, Sperandio secured a $150,000 Economic Injury Disaster Loan by submitting false revenue information and falsely certifying he was not involved in illegal activity.
He later obtained an additional $277,500 loan increase, some of which was allegedly used to launch a real estate venture—an impermissible use under EIDL rules.
The charges carry potential penalties ranging from three to 20 years in prison, significant fines, and possible restitution and forfeiture, with final sentences to be determined by a federal judge under the U.S. Sentencing Guidelines.
Sperandio is scheduled to make his initial appearance in federal court in Boston at 2 p.m.
This is a developing story. Check back for updates as more information becomes available.
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