An Old Saybrook contractor has pleaded guilty to tax evasion for failing to file personal and business federal tax returns on roughly three-quarters of a million dollars in taxable income between 2018 and 2021.
Dimitrios “Jimmy” Kassimis, 58, waived his right to be indicted and pleaded guilty before U.S. District Judge Omar A. Williams in Hartford on Wednesday.
Authorities say Kassimis also did not file employment tax returns for his construction businesses — Allstate Contracting Group and JRC Renovations — and paid some of his employees in cash.
Kassimis faces 12 to 18 months in prison, along with up to a $55,000 fine, according to the sentencing guidelines. He is also subject to a supervised release term of between one and three years.
Authorities reduced the penalties because Kassimis accepted responsibility for the crime, according to the plea agreement.
Kassimis also must make restitution to the IRS. The total loss to the federal government in tax revenue was $233,086, according to court documents.
Between 2018 and 2021, Kassimis did not have a personal bank account and paid his personal expenses through his business bank accounts, including making cash withdrawals at casinos, the documents say.
Also, he cashed checks that were made payable to his businesses in New York, and failed to report the income, according to the documents.
Kassimis has been released on a $100,000 bond pending his sentencing. According to the conditions of his release, he must open a personal bank account and give access to the probation office, and must not incur more than $500 in expenses without permission.
He also must participate in a gambling treatment program, and is prohibited from gambling, in-person or online, or from entering a casino.
This investigation was conducted by the Internal Revenue Service Criminal Investigation Division.
