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Jury deadlocks in fraud trial against Teaneck accountant

Photo Credit: Cliffview Pilot

CLIFFVIEW PILOT HAS IT FIRST: A federal jury on Monday elected not to convict a Teaneck accountant accused of defrauding clients out of $3 million that was supposed to go to the IRS to cover payroll taxes and found his business partner guilty, following a three-week trial.

Andrew Muhlstock’s business partner at Total Time Solutions, Mark Holzwanger, 51, of Forest Hills, was convicted  of two counts of wire fraud. They were deadlocked, however, on charges against Muhlstock, 58.

During the trial, federal prosecutors showed the jurors reports they said were cooked up by the pair, along with an employee, in order to keep clients from knowing the taxes hadn’t been paid.

The employee, 55-year-old Russell Speranza of Bellmore, pleaded guilty last month and admitted that he participated in sending those reports from the now-defunct company.

Sentencing for Holzwanger is set for Oct. 27.

U.S. Attorney Paul J. Fishman credited special agents with the Office of the Treasury Inspector
General for Tax Administration and the IRS Criminal Investigation unit with making the case against Holzwanger, which was presented by Assistant U.S. Attorneys J Imbert and Sarah Wolfe.

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