Worcester Business Journal

www.wbjournal.com June 6, 2016 • Worcester Business Journal 7 Proceeds benet the UMass Medicine Cancer Center UMass Medicine Cancer Walk & Run Kick-o Breakfast You're Invited! Join us to learn about the innovative cancer research, clinical trials program and compassionate care at the UMass Medicine Cancer Center, and why fundraising is important to continue this life-saving work. Thursday, June 16, 2016 When: Where: UMass Medical School, Worcester, MA Interested in attending? Call 508.856.2589 or email cancerwalk@umassmed.edu for full event details. Website: www.umassmed.edu/cancerwalk Business leaders rely on us for local business news. Subscribe today to receive bi-weekly issues in print and digital plus full online access! Smart, Engaging, Insightful. SUBSCRIBE ONLINE: www.wbjournal.com/getmywbj OR CALL: 845-267-3008 REAL DEAL Real Deal highlights recent commercial property transactions in Central Massachusetts. Commercial real estate firms that want to submit information on transactions can send it to editorial@wbjournal.com. Source: Colliers International Investment Sales — Compiled by Sam Bonacci, Worcester Business Journal digital editor The two properties are leased with companies at the properties including Diebold Inc., Accredo Therapeutic and the Volkswagen/Audi Learning Center. Hopkinton businessman pleads in million-dollar tax scheme Two men, one from Hopkinton, pleaded guilty in U.S. District Court in Boston to evading federal income taxes and defrauding the commonwealth of Massachusetts of millions of dollars in connection with the sale of cigarettes and other tobacco products, according to a release from the Office of United States Attorney Carmen M. Ortiz. Raza Ali, 56, of Hopkinton, and Kaleem Ahmad, 47, of Sharon, both pleaded guilty to one count of conspir- ing to commit wire fraud and launder money and one count of making a false statement on a federal income tax return, according to the release. They were arrested in December. A third co- conspirator, Muhammad Saleem Iqbal, 54, of Sharon, also pleaded guilty for his role in the same conspiracy in May 2016. Ali is scheduled to be sentenced on Sept.14; Ahmad on Sept. 9; and Iqbal on Sept. 7, 2016. According to the U.S. attorney's office, the trio operated a wholesale business in Norwood that sold tobacco products, including cigars, smoking tobacco and smokeless tobacco (such as snuff and chewing tobacco), to convenience stores, gas stations and other retail businesses. For their supply, Ali and Iqbal repeat- edly purchased tens, and sometimes hundreds of thousands, of dollars at a time of smoking tobacco, smokeless tobacco and cigars in Pennsylvania, where no taxes are imposed. Former state official charged with stealing $122,000 The former finance director of the state agency that manages billions of dollars in insurance benefits for state workers and their families allegedly steered more than $122,000 from the agency to a company he owned, and then tried to cover his tracks, according to Attorney General Maura Healey. Ennio Manto, who was fired from the Group Insurance Commission in December 2015, has been charged by Healey's office with two counts of larce- ny and one count of conflict of interest. He was indicted by a grand jury and will be arraigned at a later date, according to the attorney general's office. Manto, 52 of Braintree, allegedly made two wire transfers from GIC funds to a company that he owns, Seaport Equity, between March and June 2015. When an accountant at the agency dis- covered one transfer totaling $72,342.83 that didn't match internal records, Manto claimed it was payment to a health administrator for a "nonstandard report." The accountant, however, reportedly discovered that the payment Manto refer- enced was not due for another year and was for a different amount, prompting an investigation. It was then, according to prosecutors, that Manto tried to alter the original printout of the wire transfer by cutting out references to Seaport Equity and taping in information about the health plan administrator. ADDRESS: 261 Cedar Hill and 753 Forest St., Marlborough AREA: 134,404 square feet SALE PRICE: $14.125 million SELLER: Wheelock Street Capital (Wheelock) and Novaya Real Estate Ventures (Novaya) BUYER: Calare Properties REGIONAL BRIEFS New England electric prices fell 35% in 2015 Electricity prices in New England fell by 35 percent in 2015 on the back of plummeting natural gas prices. accord- ing to ISO New England. The operator of the region's bulk power system and wholesale electricity markets released its 2015 Annual Markets Report with the findings that natural gas prices, coming in at 41 per- cent less than the 2014 average, spurred on a drop in electricity prices. The prices of both natural gas and wholesale power were the lowest since 2012. Natural gas is key in the wholesale price because the fuel generates 49 per- cent of New England's electricity. Chicago accounting firm buys Westborough software co. Westborough software firm AbleBridge has been acquired by Chicago company Crowe Horwath LLP, which plans to use the company to establish a Boston-area office. The Westborough company was founded in 2007 and develops and sells industry software solutions built upon the Microsoft Dynamics Customer Relationship Management (CRM) plat- form. In addition to insurance, AbleBridge also services organizations in the manu- facturing, broker-dealer, wealth man- agement, construction and professional services areas. n

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