New Jersey-Philadelphia pizza scion Frank Santucci Sr. admitted Thursday to hiding $4.8 million in income over four years, depriving the IRS of nearly $375,000 in tax revenue.

Santucci was freed Thursday on $50,000 bail. Under his guilty plea, he faces up to 16 years in prison and fines up to $1 million when he's sentenced Nov. 3.

Frank Santucci Sr., 66, of Moorestown allegedly kept two sets of financial records as a partner and informal bookkeeper at Santucci's Original Square Pizza shops, according to the U.S. Attorney's ...