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Timothy G. Griffin, who practiced law in Bronxville, N.Y., waived his right to indictment and pleaded guilty before U.S. Magistrate Judge William I. Garfinkel in Bridgeport. He faces a maximum of three years in prison and a fine of up to $250,000, according to Deirdre M. Daly, U.S. attorney for Connecticut.
According to court documents and statements made in court, in 2006, the Internal Revenue Service sent letters to Griffin about his failing to file income tax returns for the 2002, 2003, and 2004 tax years.
In response to the IRS inquiry, Griffin prepared and submitted fraudulent individual income tax returns for the 2003 and 2004 tax years:
- The 2003 return reported business income of $77,713, gross receipts from the law practice of $225,825, a net profit of $32,200, and a total tax of $10,981.
- The 2004 return reported business income of $67,983, gross receipts from the law practice of $234,894, a net profit of $39,767, and a total tax of $9,606.
A subsequent criminal investigation determined that Griffin did not report on these two tax returns $498,934 in additional gross receipts from his law practice, resulting in additional tax due of $136,844.
He is scheduled to be sentenced by U.S. District Judge Stefan R. Underhill on Dec. 23.
Griffin also has agreed to make restitution to the U.S. Department of Treasury in the total amount of $153,807 – which includes $136,844 for the 2003 and 2004 tax years and $16,963 for the 2005 and 2006 tax years – plus penalties and interest.
Griffin is facing additional charges in New York, where he was arrested on Sept. 19 on charges of stealing from his clients’ escrow accounts and using the money to fund his family’s extravagant lifestyle.
Griffin stole more than $1 million from clients between April 2009 and February 2014, according to the criminal complaint filed by New York Attorney General Eric T. Schneiderman.
As a real-estate attorney, Griffin’s clients would give him money to be held in escrow for pending transactions. Instead of keeping the money in escrow, as required by law, Griffin transferred it to his personal bank account and used that money to make payments on:a membership at Westchester’s Waccabuc Country Club, a BMW, a Lexus, expensive jewelry and other personal expenses, Schneiderman said.
He was charged with seven counts of felony grand larceny in that case. If convicted, he faces up to 25 years in prison. Read more about the New York arrest here on the Daily Voice.
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