54-year-old Charles "Chuck" Bangle and his wife, 53-year-old Mary Bangle, own the summertime staple Manco and Manco. But they were arrested at their Somers Point home Thursday morning and appeared in front of a federal judge in Camden later in the day.
The owners of the iconic pizza shops are accused of concealing nearly $1 million from the IRS between 2007 and 2011.
Mary's father was one of the original owners of the business formerly known as Mack and Manco. The couple bought the business in 2011 and changed the name to Manco and Manco.
The pizza chain includes three shops on the Ocean City boardwalk and one spot in Somers Point.
Federal prosecutors allege the couple skimmed large amounts of cash from the strictly cash business, that generated $4.5 million a year.
Chuck Bangle would then allegedly deposit amounts less than $10,000 to avoid raising the suspicions of the IRS. Prosecutors say the Bangles used that money to pay personal expenses.
In all the government contends the couple concealed $981,000 in income from the IRS, of which they would have owed more than $336,000 in taxes.
Prosecutors say that the Bangles claim the cash they deposited into personal accounts was cash salary earned at the business.
Both Chuck and Mary Bangle were released on $100,000 unsecured bail. They were also told to surrender the 12 firearms in their home.
Each of the 30 counts against them carries a maximum of five years in prison and a $250,000 fine.
The Bangles' attorney released the following statement Thursday evening:
"For nearly two years, Mr. Bangle, through counsel, has cooperated with the government's investigation into alleged violations of tax law. For that reason, today's arrests came as a shock. Mr. and Mrs. Bangle intend to vigorously defend themselves in court against these charges. They look forward to presenting defenses at the appropriate judicial proceedings and to the opportunity to have their side of the story heard. In keeping with Court rules, we are withholding further comment at this time."
