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Owners of Popular Shore Spot Charged with Tax Evasion

Charles Bangle, 54, and his wife, Mary, 53, were charged Thursday morning with multiple counts of tax evasion and other charges.

(Patch file photo)
(Patch file photo)
By Anthony Bellano

The owners of the popular Ocean City restaurant chain Manco and Manco were charged Thursday morning with 30 counts of tax evasion and other charges, U.S. Attorney Paul J. Fishman announced Thursday morning.

Charles Bangle, 54, and his wife, Mary, 53, were arrested at their home in Somers Point on Thursday morning by IRS-Criminal Investigation special agents.

They were charged with one count of conspiracy to evade income taxes, five counts of income tax evasion for 2007 through 2011, and one count of making false statements to the IRS. 

Charles Bangle is also charged with 23 counts of structuring financial transactions to avoid reporting requirements.

Their initial court appearance is scheduled for 2 p.m. in Camden.

Mack and Manco became Manco and Manco in 2011 when Charles and Mary Bangle purchased controlling interest in the 55 year-old Boardwalk establishment.

Charles took over the day-to-day operations and Mary handled the cash and payroll. 

Between 2007 and 2011, Charles and Mary Bangle allegedly skimmed large sums of cash from the business, according to the indictment handed down on Thursday.

Charles Bangle deposited significant amounts of that cash into their personal bank account at TD Bank in amounts less than $10,000 in order to avoid triggering a Currency Transaction Report from financial institutions to the U.S. Department of Treasury.

The Bangles then used the money to pay for personal expenditures. They allegedly concealed approximately $981,000 in income from the IRS, which they had a legal obligation to report on their personal income tax returns. Had they accurately reported all their income to the IRS, the Bangles would have owed an additional $336,273.

The Bangles claimed the deposits into their personal checking account were from cash salary earned at the pizza business. 

Each of the 30 counts of the indictment carries a maximum potential penalty of five years in prison and a $250,000 fine.

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