Fat Joe Pleads Guilty to $3.7-Million Tax Evasion, Faces Two Years in Prison
These days, Fat Joe ain't so fat. But he owes an obese (or is that obscene?) amount of back taxes to the IRS.
According to a press release from the Department of Justice: "Joseph Cartagena, the rapper popularly known as 'Fat Joe,' pleaded guilty [in New Jersey] today to two counts of failing to file tax returns with the IRS."
Mr. Cartagena's unreported gross income was "in excess of $1.3 million in 2007, in excess
of $1.4 million in 2008, in excess of $320,000 in 2009, and in excess of $680,000 in 2010."
And the tab from Uncle Sam: "$718,038."
After admitting to being shitty and shady on his tax filings, "Cartagena, 42, of Miami Beach, Fla." was released on $250,000 bail "pending sentencing," which is "scheduled for April 3, 2013."
"Cartagena faces a maximum potential sentence of two years in prison," the DOJ press release states, "and a fine of $200,000, in addition to the costs of prosecution."
"Cartagena has further agreed to file true and accurate tax returns and to pay to the IRS all taxes and penalties owed."
Looks like it's time to get a phat accountant, Fat Joe.
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