The owners of Manco & Manco Pizza pleaded not guilty Monday to federal charges that they hid nearly $1 million from the IRS.
Charles "Chuck" Bangle, 54, and his wife, Mary, 53, were arrested at their Somers Point home April 3, and were arraigned before U.S. District Judge Ann Marie Donio in Camden federal court Monday.
In 2011, the two employees purchased a controlling interest in what was then called Mack & Manco, changing the name to Manco & Manco. It has three locations in Ocean City and one in Somers Point.
The couple was indicted on charges that between 2007 and 2011, they skimmed large sums of cash from the business.
Charles Bangle allegedly deposited some of that into the couple's personal bank account at TD Bank in amounts less than $10,000, the threshold that triggers a Currency Transaction Report from financial institutions to the U.S. Department of Treasury.
The Bangles then allegedly used the money to pay for personal expenditures.
The couple is accused of concealing about $981,000 in income from the IRS — translating to about $336,273 in unpaid taxes.
The Bangles claimed the deposits into their personal account were from salary earned at the pizza business, according to the indictment.
Each of the indictment's 30 counts carries a maximum potential penalty of five years in prison and a $250,000 fine.
Charles Bangle's attorney, Vincent Sarubbi, said at the time of the arrest that his client cooperated with the government's investigation, and expressed shock at the arrests.
Both were released on $100,000 bail each.
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