A physician who ran a medical office in Parlin was sentenced to 37 months in prison for structuring more than $1.4 million in order to avoid reporting requirements.
Joseph A. Spinapolice, 73, of Palm Coast, Florida, previously pleaded guilty before U.S. District Judge Freda L. Wolfson to an information charging him with structuring financial transactions, according to a statement released by Acting U.S. Attorney William E. Fitzpatrick.
Wolfson imposed the sentence on July 18 in Trenton federal court.
According to documents filed in this case and statements made in court, Spinapolice was a physician who operated Middlesex Healthcare Associates LLC, a medical office in Parlin. Spinapolice’s practice did not accept insurance and received payment primarily in cash. Spinapolice admitted that from January 2013 through July 2015, he deposited a total of $1,463,974 in cash proceeds via more than 198 separate transactions, all done in an amount of less than $10,000 in order to avoid currency reporting requirements, according to the statement.
In addition to the prison sentence, Wolfson sentenced Spinapolice to a year of supervised release. Spinapolice also consented to the entry of a forfeiture money judgment in the amount of $1,463,974.
