A Chelsea business owner has been arrested and charged with tax evasion and fraud related to COVID-19 relief loans. Helcio Sperandio, 52, who owns Aquarelle Painting & Services, was indicted by a federal grand jury in Boston. He faces charges of filing false tax returns, tax evasion, and wire fraud.
According to court documents, from 2018 through at least 2022, Sperandio allegedly cashed hundreds of customer payment checks instead of depositing them into his company’s bank accounts. Prosecutors say he provided only the bank statements to his tax preparer but did not disclose the cashed checks. As a result, his income was underreported on both corporate and individual tax returns, leading to an alleged evasion of $2.3 million in federal income taxes.
Authorities also allege that during the COVID-19 pandemic, Sperandio obtained a $150,000 Economic Injury Disaster Loan (EIDL) from the Small Business Administration by submitting false revenue figures and certifying he was not engaged in illegal activity while actively defrauding the U.S. Treasury. He later received an additional $277,500 as a loan increase and used some funds to start a real estate company—an action prohibited under EIDL program rules.
If convicted on all counts, Sperandio could face significant prison time: up to three years for filing a false tax return; up to five years for tax evasion; and up to 20 years for wire fraud. Each charge also carries supervised release terms and fines that may reach $250,000 or more depending on financial losses or gains involved.
United States Attorney Leah B. Foley stated: “United States Attorney Leah B. Foley; Thomas Demeo, Special Agent in Charge of the Internal Revenue Service-Criminal Investigation Boston Field Office; and Ketty Larco-Ward, Inspector in Charge of the Boston Division of the United States Postal Inspection Service made the announcement today.” Assistant U.S. Attorney Kriss Basil is prosecuting the case.
The Department of Justice created the COVID-19 Fraud Enforcement Task Force in May 2021 to coordinate efforts against pandemic-related fraud across government agencies. The task force focuses on investigating major domestic and international offenders as well as supporting agencies responsible for administering relief programs through enhanced coordination and information sharing efforts. More details about these initiatives can be found at https://www.justice.gov/coronavirus and https://www.justice.gov/coronavirus/combatingfraud.
Anyone with information about attempted COVID-19 relief fraud is encouraged to report it using the Department of Justice’s National Center for Disaster Fraud hotline or web complaint form.
Prosecutors emphasized that all allegations are currently unproven and that “the defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in the court of law.”
