Oceanside accountant embezzles more than $750,000

Pleads guilty to tax evasion; used money to fund his non-profit in Merrick

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A public accountant from Oceanside pleaded guilty to tax evasion on Wednesday in federal court in Central Islip for embezzling more than $750,000 from schools that serve special needs children.

Between 2009 and 2013, two unnamed Queens-based non-profit schools for special needs children paid Dennis Stamm, part owner of Stamm & Bader, an accounting firm in Manhattan, $758,280 to prepare tax returns and make quarterly payroll tax payments, according to court documents.

But Stamm took the money for personal use, according to prosecutors, and to pay tax liabilities for the Long Island Infant and Development Program, a Merrick non-profit that provided child development and early intervention services for special needs children, which he also owned and operated.

Stamm was released on a personal recognizance bond — a no-cost bail — according to John Marzulli, a spokesman for U.S. Attorney’s office. He faces a maximum of five years in prison, and must pay more than $1.1 million in restitution.

His sentencing is tentatively scheduled for Dec. 4.