Monday, December 14, 2015

Owners of Nick's Famous Roast Beef in Beverly Indicted on Tax Evasion Charges

The people behind what many consider the best roast beef joint in the region are apparently in trouble with the federal government.

Universal Hub is reporting that the two owners of Nick's Famous Roast Beef in Beverly have been indicted on tax evasion based on $6 million in sales over a period of six years, according to the US Attorney's Boston office. The article says that the charge includes allegations that the owners of the Dodge Street eatery used the cash-only rule there to avoid paying taxes, with the official report noting that "From 2008 to 2013, Nicholas Koudanis and [Nicholas] Markos allegedly skimmed more than $1 million in cash receipts each year which they failed to report on either the corporate tax returns or their personal tax returns, thereby avoiding the payment of nearly $1 million each in personal income taxes during that period," while "Eleni Koudanis [the wife of one of the owners] had primary responsibility for the book-keeping functions of the business, and also recruited employees, including her son Steven Koudanis, to create false cash register receipts to use in connection with an IRS tax audit of Nick’s Famous Roast Beef."

Nicholas and Eleni Koudanis and Nicholas Markos have been charged with one count of conspiracy to defraud the United States by obstructing the IRS and 10 counts of aiding and assisting in the filing of false tax returns, while Steven Koudanis was charged with one count of endeavoring to obstruct and impede the due administration of the Internal Revenue Laws.

Nick's Famous Roast Beef is a dining spot that our sister site (Boston's Hidden Restaurants) has featured as one of the best--if not the best--place to get a roast beef sandwich in the Greater Boston area. The review can be found at the link below:

The address for Nick's Famous is 139 Dodge Street, Beverly, MA, 01915; its website is at

[January 12, 2017 update: According to an article on the WCVB website, Nicholas and Eleni Koudanis and Nicholas Markos of Nick's in Beverly have pleaded guilty to aiding and abetting the filing of false tax returns and conspiracy, while Steven Koudanis pleaded guilty to obstruction. The post says that all four are required to pay back more than $2 million in taxes and penalties, while Nicholas Koudanis is looking at up to three years in jail (it is not known what the other three could face in jail time).]

Follow us on Twitter at @hiddenboston

[Related article from our sister site (Boston's Hidden Restaurants): Slideshow--Twelve Sandwiches from Restaurants in the Boston Area and Elsewhere in New England]

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