Son of ex-state Rep. Edward Acevedo pleads guilty to cheating on taxes

Michael Acevedo, 36, faces up to three years in prison for failing to file federal income tax returns for the years 2016, 2017 and 2018.

Sun-Times file

A son of former state Rep. Edward “Eddie” Acevedo, caught up in the investigation of former Illinois House Speaker Michael J. Madigan, pleaded guilty Monday to cheating on his taxes to the tune of an estimated $137,000.

Michael Acevedo, 36, faces up to three years in prison for failing to file federal income tax returns for the years 2016, 2017 and 2018. Sentencing guidelines call for up to just under two years based on an early prediction in his plea agreement.

A sentencing hearing has been set for March 15.

During a hearing before U.S. District Judge John Kness, Assistant U.S. Attorney Diane MacArthur said Michael Acevedo also failed to file tax returns in 2019 and 2020 and filed a false return in 2015. The case involved Michael Acevedo’s lobbying company, Apex Strategy LLC.

Though MacArthur said the conduct cost the federal and state government $137,647, defense attorney Thomas Leinenweber told the judge that was an estimated loss.

Michael Acevedo, his brother Alex and their father were indicted separately in February 2021 for allegedly cheating on their taxes. The charges resulted from the same investigation that led to this year’s indictment of Madigan.

Edward Acevedo pleaded guilty in December 2021 to tax evasion. U.S. District Judge Matthew Kennelly then sentenced him in March to six months behind bars, and federal prison records show he was released from custody one week ago.

However, Edward Acevedo was further implicated in the Madigan scandal two months ago, when prosecutors expanded their case against the former speaker and his longtime confidant, Michael McClain. 

The feds alleged in October that Madigan and McClain worked with onetime AT&T Illinois President Paul La Schiazza to have $22,500 paid to Edward Acevedo in an attempt to influence Madigan as crucial legislation was considered in Springfield. Edward Acevedo has not been criminally charged with that particular scheme.

Meanwhile, Alex Acevedo is set to go to trial Jan. 30. In a recent court filing, his defense attorney said investigators displayed a “laser-like focus on Madigan” when they met with Alex Acevedo in February 2020.

Feeds,News,Region: Chicago,City: Chicago

via Chicago Sun-Times – All

December 12, 2022 at 11:43AM

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