A Forest Hills accountant was charged with wire fraud in a federal court in New Jersey on Thursday.
Mark Holzwanger, 50, of Forest Hills, was arraigned in New Jersey on three counts of wire fraud for allegedly stealing millions of dollars worth of payroll tax payments which were given to his company, Total Time Solutions. Holzwanger and his accomplices are accused of having stolen $3 million.
According to the U.S. Attorney's office in Trenton, New Jersey, where the case is being tried, Holzwanger and three business partners allegedly used their positions at the payroll services company to get unwarranted access to millions of dollars in client funds which were intended to be used as tax payments and passed on to the Internal Revenue Service.
Once they had access to the funds, U.S. Attorney Paul Fishman announced, the group allegedly used the money to help with the upkeep of their own business.
Holzwanger and his accomplices face up to 20 years in prison and $250,000 in fines, or up to double the amount of money the three men allegedly stole in the scheme.
Holzwanger was released on $100,000 bond. His lawyer, New York-based Julian Schreibman, said his client is being wrongfully accused.
"We absolutely maintain that he's not guilty of the charges," Schreibman said. "He's not even accused of having made any money in the incident, so it's a pretty low-grade charge and he's not even guilty of that."