United States District Court for the District of New Jersey in Camden

CAMDEN — An Atlantic City man on Thursday admitted to skimming cash from his resort businesses to use on luxury hotels and vehicles, while failing to pay income taxes.

Coby Frier, 53, one of the owners of several bars, restaurants and clubs in the resort, including A.C. Dolls on New York Avenue, pleaded guilty to one count of income tax evasion by videoconference before U.S. District Judge Noel L. Hillman, according to a news release from U.S. Attorney Craig Carpenito.

Frier admitted to skimming cash between 2012 and 2015 from the businesses and deposited it in his personal bank account, according to the release. He used the money for personal expenses, including luxury hotel stays, department store purchases and restaurant visits.

He also admitted to using cash skimmed from businesses to make down payments on luxury vehicles and attempting to evade detection by the IRS by keeping those down payments under the $10,000 cash reporting threshold, according to the release.

Frier did not report the cash skimmed from the businesses as income during those years, did not file personal income tax returns and did not pay any personal income taxes, according to the release, and he admitted he owed to the government taxes on this unreported income.

He faces a maximum potential penalty of five years in prison and a $250,000 fine. His sentencing is scheduled for Sept. 11.

Contact: 609-272-7241

mbilinski@pressofac.com

Twitter @ACPressMollyB

Staff Writer

My beat is public safety, following police and crime. I started in January 2018 here at the Press covering Egg Harbor and Galloway townships. Before that, I worked at the Reading Eagle in Reading, Pa., covering crime and writing obituaries.

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

PLEASE BE ADVISED: Soon we will no longer integrate with Facebook for story comments. The commenting option is not going away, however, readers will need to register for a FREE site account to continue sharing their thoughts and feedback on stories. If you already have an account (i.e. current subscribers, posting in obituary guestbooks, for submitting community events), you may use that login, otherwise, you will be prompted to create a new account.

Load comments