Tecademics’ Jim Piccolo sentenced to 18 months in prison
Tecademics co-founder Jim Piccolo (aka James Philip Piccolo), has been sentenced to 18 months in prison.
Piccolo was charged with tax fraud in January 2023. As alleged by the DOJ;
JAMES PICCOLO was the co-owner and operator of Tecademics, LLC (“Tecademics”), a business located in Scottsdale, Arizona.
JAMES PICCOLO exercised control over Tecademics’s business affairs, including approving payments by the company and controlling all of Tecademics’s bank accounts.
At all times relevant to this information, JAMES PICCOLO was a “responsible person,” that is, he had the corporate responsibility to collect, truthfully account for, and pay over Tecademics’s payroll taxes.
JAMES PICCOLO collected income taxes and Federal Insurance Contributions Act (“FICA”) taxes from Tecademics employees by withholding those amounts from the employees’ paychecks.
On or about June 5, 2017, in the District of Arizona, JAMES PICCOLO did willfully fail to truthfully pay over to the Internal Revenue Service all of the federal income taxes withheld and FICA taxes due and owing to the United States on behalf of Tecademics and its employees, for the first quarter of 2017.
All in violation of Title 26, United States Code, Section 7202.
Piccolo (right) initially pled not guilty on January 10th. Later that same day however he changed his plea to guilty.
As part of Piccolo’s guilty plea, he agreed to pay $651,478 in restitution.
Following several delays, on September 28th Piccolo was sentenced to 18 months in prison. The agreed $651,478 in restitution was also ordered, as well as a $10,000 fine.
Piccolo has been ordered to surrender himself to U.S. Marshals by January 2nd, 2024 to begin his sentence.
Tecademics’ run as an MLM company was short-lived.
Tecademics launched in 2016 with co-founder Chris Record (right) as the face of the company.
I ran a search on Chris Record but it seems he hasn’t been charged with anything.
Tecademics sold a $100 a month subscription, as well as $2000 and $10,000 internet marketing courses.
In early 2018 Tecademics was sold to Piccolo through his company IQup. The MLM opportunity was discontinued.
Today Tecademics’ website is still online. The company itself however appears to have long-since collapsed.
Tecademics’ Facebook page was abandoned in January 2018. SimilarWeb tracked just 875 visits to Tecademics’ website in August 2023.
With Piccolo heading to prison, no doubt what was left of Tecademics will disappear.