West Chester businessman's scheme funded 'lavish' purchases, feds say

Posted: 1:41 PM, Jun 05, 2018
Updated: 2018-06-05 17:41:48Z

COLUMBUS, Ohio -- The U.S. Attorney's Office said a West Chester Township businessman pleaded guilty Tuesday to a scheme that funded his "lavish" purchases, including a second home in Florida.

John R. Cacaro, 58, enter guilty pleas to wire fraud and money laundering, U.S. Attorney Ben Glassman said.

Cacaro owned Employers Choice Plus, LLC, which processed payroll for its clients. Glassman said Cacaro understated his clients' payroll by millions of dollars so he could pay less money to the Ohio Bureau of Workers' Compensation.

In all, Glassman's office said Cacaro underreported more than $425,000 in workers' compensation premiums. He used the money to buy a motor home and a residence in Naples, Florida, Glassman said.

As part of his plea agreement, he has agreed to pay the total amount of $425,246.58 in restitution.

The IRS's Criminal Investigation unit and the Ohio Bureau of Workers' Compensation's special investigations department helped in the case.

Wire fraud is punishable by up to 20 years in prison, and money laundering is punishable by up to 10 years in prison.