Owners of Manco & Manco Pizza in Ocean City Charged with Tax Evasion
By David Madden and Syma Chowdhry
SOMERS POINT, N.J. (CBS) -- The owners of a popular pizza chain at the South Jersey shore are in trouble with the feds.
You may not recognize the names Charles and Mary Bangle. But chances are, if you've been on the boardwalk in Ocean City, NJ, you've sampled their fare at Manco & Manco Pizza.
The Bangles appeared today in federal court in Camden.
They were arrested and charged in the 30-count indictment with hiding close to $1 million in income between 2007 and 2011, evading taxes by skimming cash out of the business in amounts just large enough to avoid federal reporting. This was before they bought the pizza chain.
Had they accurately reported all their income, the Bangles would've owed an additional $336,000.
They told officials the money was from a cash salary they earned at the pizza business.
They bought the chain's four shops three years ago when it was originally called Mack and Manco. It's been an iconic shop on Ocean City's boardwalk since the 1950's.
But the future of the pizza chain is unclear since the owners are facing legal troubles.
Following court, Charles Bangle tried to cover his face as he drove off and his attorney did not want to comment.
Bangle's attorney released a statement Thursday night:
"For nearly two years, Mr. Bangle, through counsel, has cooperated with the government's investigation into alleged violations of tax law. For that reason, today's arrests came as a shock. Mr. and Mrs. Bangle intend to vigorously defend themselves in court against these charges. They look forward to presenting defenses at the appropriate judicial proceedings and to the opportunity to have their side of the story heard. In keeping with Court rules, we are withholding further comment at this time."
Both Charles and Mary have been released on bail $100,000 unsecured bond.
They will return to court for an arraignment hearing on April 14.