Schaumburg real estate executive pleads guilty to tax evasion

(CHICAGO) A northwest suburban real estate appraisal executive pleaded guilty Wednesday to failing to pay more than half a million dollars in income taxes.

William Daddono, 59, pleaded guilty to one count of willfully attempting to evade and defeat the payment of federal income tax, according to a statement from the U.S. attorney’s office.

Daddono, owner of Schaumburg-based Advanced Appraisal Group and American Appraisal Consultants, admitted in the plea agreement that he failed to pay taxes on more than $1.92 million from 2005 to 2010, prosecutors said.

He tried to conceal his earnings in a corporate account under the name of a defunct business he previously owned, according to the U.S. attorney’s office. His unpaid taxes amounted to more than $550,000.

Daddono, who lives in Palatine, is scheduled to appear before U.S. District Judge Sharon Johnson Coleman June 10 for a sentencing hearing, prosecutors said. His conviction carries a maximum sentence of three years in prison and a maximum fine of either $250,000 or twice the gross gain or loss from the offense.