FREEHOLD, NJ – A Monmouth County grand jury has returned an indictment charging the director of Management Information Systems in Middletown Township for underreporting his income on his 2010-2014 tax returns and failing to disclose income from outside his employment with the township, announced Acting Monmouth County Prosecutor Christopher J. Gramiccioni.
Todd W. Costello, 45, of Jackson, is named in a 14-count indictment charging him with five counts of third degree Filing a False Return, five counts of third degree Failure to Pay Taxes, and four counts of third degree Tampering with Public Records. If convicted, each of the third degree counts carries a potential sentence of three to five years in a New Jersey state prison.
An investigation by the Monmouth County Prosecutor’s Office, with assistance from the New Jersey Department of Treasury Office of Criminal Investigations, revealed Costello underreported his income by more than $535,000 on his 2010 to 2014tax returns. Costello is employed in Middletown Township as the director of Management Information Systems.
In total, the investigation determined Costello failed to pay more than $22,000 in additional New Jersey state taxes on income received.
The case is assigned to Monmouth County Assistant Prosecutor William Somers.
Costello is represented by Christopher Adams, Esq., of Holmdel.
Despite these charges, every defendant is presumed innocent, unless and until found guilty beyond a reasonable doubt, following a trial at which the defendant has all of the trial rights guaranteed by the U.S. Constitution and State law.