Bean Town Times

A Nahant woman and a Winthrop man pleaded guilty today in federal court in Boston to conspiring to commit wire fraud and tax evasion.

Gary P. DeCicco, 65, and Pamela M. Avedisian, 61, each pleaded guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to defraud the United States. U.S. District Court Judge Richard G. Stearns scheduled DeCicco’s sentencing for Sept. 18, 2024; Avedisian’s sentencing date has not yet been scheduled. DeCicco and Avedisian were indicted by a federal grand jury in January 2018.

Between April 2012 and February 2013, DeCicco repeatedly told the IRS that he did not have the ability to pay his over $340,000 tax liability and that he had very little cash, no vehicles or real property, and no ownership interest in any asset with a positive value. However, DeCicco had ownership interests in several businesses, vehicles, and real properties titled in his name and the names of Avedisian, Lynnway Auto Sales Inc., and other entities to conceal those assets from the IRS during that time period. Additionally, beginning in March 2013, after the IRS accepted DeCicco’s proposed monthly payment plan (based on false information about his assets and income), DeCicco bought and sold numerous real properties, boats, and high-end cars while concealing those assets and his income from the IRS, often with Avedisian’s assistance.

Furthermore, Avedisian owned a property in Nahant subject to a mortgage exceeding $1 million. In October 2015, DeCicco and Avedisian conspired to defraud the mortgage holder by proposing the sale of the property for significantly less than the outstanding mortgage through a “short sale.” Short sales are intended as arms-length transactions where buyers and sellers are unrelated and act independently. To get approval for this sale, DeCicco and Avedisian concealed their long-term romantic and business relationships from the loan servicing company and falsely represented that Avedisian could no longer make payments towards the mortgage on the property. In fact, just two months before closing on this “short sale,” Avedisian purportedly received $3.5 million from selling another asset to DeCicco.

The conspiracy charges each carry penalties of up to five years in prison, three years of supervised release, and a fine of $250,000. Sentences are imposed by a federal district court judge based on U.S. Sentencing Guidelines and other statutory factors.

Acting United States Attorney Joshua S. Levy; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation's Boston Division; Harry Chavis Jr., Special Agent in Charge of Internal Revenue Service Criminal Investigation's Boston Field Office made today's announcement. Assistant U.S. Attorneys Kristina E. Barclay and Neil J. Gallagher Jr., from the Public Corruption & Special Prosecutions Unit are prosecuting this case.