According to a report in the Santa Monica Patch, a local business owner, Utta Hollingshead of Santa Monica, entered a plea of guilty to one count of subscribing to a false tax return. The guilty plea for tax evasion was the result of a deal Hollingshead made with prosecutors.
Prison Time For Tax Evasion
Hollingshead could possibly spend three years in prison for allegedly concealing over $210, 000 in income from the Internal Revenue Service. Hollingshead, who owned massage therapy and fitness business Utta Body Sculpture LA in Beverly Hills, admitted to endorsing checks from her business clients not to business accounts, but to her personal accounts. She would then proceed to use those funds to cover personal expenses. The checks, along with various cash payments, never made it into the bank accounts of the business. The money was also never reported on her income tax returns in the years this was occurring, 2005 to 2007.
In addition to a maximum of three years in prison, Hollingshead may be fined $250,000. Hollingshead will be sentenced in February of 2013.
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