Abruzzo trust heir sentenced in tax case

Abruzzo trust heir sentenced in tax case

A man accused of not reporting payments from an Abruzzo trust fund was sentenced recently.

ALBUQUERQUE, N.M. — Even if you don’t know the Abruzzo family personally, you know some of their business adventures, including the Sandia Peak Tram.

Now, an Abruzzo in-law is headed to prison after an attempt to sue the family led to a major discovery about his taxes.

A jury convicted Victor Kearney last year of filing a false tax return. Meanwhile, his attorney Robert Fiser pleaded guilty to conspiracy and tax fraud charges.

Kearney, who married into the Abruzzo family, and other family members, received money after his wife passed away in 1997. Federal officials say Kearney got around $800,000 a year from the Abruzzo trust.

However, in 2013, Kearney sued the family claiming. He claimed the family mismanaged the trust and didn’t pony up the money they owed him.

According to court documents, evidence from the case revealed Kearney and Fiser didn’t report payments from the trust and didn’t pay taxes from 2007-11.

Fiser pleaded guilty to the charges he faced. A judge sentenced him last year to 15 months in prison. However, he passed away in August.

Meanwhile, this week, a judge sentenced Kearney to two years and three months in prison. He’ll also have to serve three years supervised release and pay the IRS more than $1 million in restitution.