BOXFORD — A Boxford plumber has reached a plea agreement with federal prosecutors on charges of tax evasion and fraud, the U.S. Attorney’s office announced Tuesday.

Jared “Jay” Derrico, 35, owned a business called “Derrico Services” and “The Pipe Surgeon.”

Federal prosecutors say he evaded more than $1.45 million in income taxes by depositing customer payments into his personal bank accounts and did not report it on his income tax returns.

In addition, he was charged with defrauding a property owner in Boston who paid for air conditioning units that were never installed, prosecutors said.

Derrico has agreed to plead guilty to two counts of mail fraud and one count of tax evasion at a hearing to be scheduled sometime later this year.

The offenses occurred over a four-year period from 2015 to 2019.

While the charges carry potential prison terms up to five years for tax evasion and 20 years for mail fraud, the exact sentence was not announced. Derrico has agreed to pay restitution to the fraud scheme as well as to the IRS, if the plea agreement is accepted by a judge.

The case was investigated by the IRS criminal investigation division, with assistance from the Ipswich Police Department and the United States Postal Inspection Service.

Courts reporter Julie Manganis can be reached at 978-338-2521, by email at jmanganis@salemnews.com or on Twitter at @SNJulieManganis

Courts reporter Julie Manganis can be reached at 978-338-2521, by email at jmanganis@salemnews.com or on Twitter at @SNJulieManganis

Trending Video

Recommended for you