- Associated Press - Tuesday, May 19, 2015

NEWARK, N.J. (AP) - A former top official with a traffic safety equipment business is headed to prison for evading income taxes on more than $2 million in withdrawals he made from the firm for his own use

Federal prosecutors say Anthony Pecoraro, of Colts Neck, received a 33-month sentence Tuesday. He also will have to serve three years of supervised release and must pay more than $1.2 million in restitution to the IRS.

The 52-year-old Pecoraro was a vice president for Traffic Safety Service LLC of South Plainfield, which provided traffic safety equipment and other traffic related services to municipalities and private businesses.

Pecoraro had access to the company’s business account, and he admitted writing checks for unauthorized cash withdrawals totaling about $2,126,200 overall between June 2008 and December 2009.

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