New Jersey man arrested in alleged $2 million tax evasion scheme

April 5 (UPI) -- A New Jersey man was arrested on tax evasion charges Friday in connection to a real estate scheme to avoid IRS scrutiny.

The Justice Department said Matthew Tucci concealed purchases of more than $7.6 million in real estate to avoid paying taxes.

"According to the indictment, in 2015 and 2016, Matthew Tucci, of West Long Branch, received millions of dollars in income from purported refunds by the Customs and Tax Administration of the Kingdom of Denmark," the Justice Department said in a press release Friday.

The Justice Department says Tucci submitted tax returns indicating he owed up to $2 million to the IRS but tried to evade the agency's collection efforts.

According to the Justice Department, Tucci transferred the title of some of his properties to other individuals in order to avoid scrutiny and made false statements to the IRS about his finances.

Tucci faces up to five years in prison if convicted.