The former chief executive officer of a bankrupt Hollywood payroll services firm is facing trial next month on tax-evasion charges.
John Visconti, 71, is accused of taking millions of dollars from Axium International Inc. and failing to report it to the Internal Revenue Service as income, according to the U.S. Attorney’s Office.
Visconti, who was arrested June 2, entered a not guilty plea later that day and was freed on a $100,000 bond, prosecutors said.
Trial was set for July 29.
Axium, once among the largest movie payroll services providers, filed for bankruptcy in 2008.
As the payroll services provider and employer of record for its clients, Axium regularly submitted payroll tax returns to the IRS and the tax authorities of several states, federal prosecutors said.
The company collapsed after it was revealed that Axium owed tens of millions of dollars in payroll taxes, which led to its lender foreclosing on its bank accounts, officials said.
