Nick's Roast Beef Tax Fraud Saga Continues

BEVERLY, MA – After the U.S. Attorney's office accused them of skimming $6 million in cash receipts, the four owners of Nick's Roast Beef have pleaded guilty to tax fraud charges, according to multiple reports.

The Salem News reported on Tuesday that Nicholas Koudanis and Nicholas Markos pleaded guilty to charges of aiding and abetting in the filing of false tax returns and conspiracy in U.S. District Court. Last week, Eleni Koudanis pleaded guilty to the same charges on Thursday, and Steven Koudanis pleaded guilty to obstruction.

Nick's Roast Beef has been called the holy grail of roast beef on the North Shore, and remains popular despite the charges.

Forbes published a report on Eleni Koudanis' plea last week, painting it as a rare but chilling example of what can happen when small businesses underreport cash transactions. According to Forbes, Judge Patti Saris recommended that the sentencing date not fall before Greek Orthodox Easter (April 16). The Salem News reports that the owners will be sentenced on April 26.

According to the indictment from December 2015, the owners allegedly skimmed more than $1 million in cash receipts every year from roughly 2008 to 2013, and did not report on either the corporate or personal tax returns.

Related: $6M Skimmed by Nick's Roast Beef Owners

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