Welp! It’s happened again. This time it’s Fat Joe who will be headed to Federal Prison for four months on tax evasion charges.
AllHipHop.com is reporting that Fat Joe plead guilty to evading his tax responsibilities. However he claims that “fancy guys in bow ties” are the ones who mishandled his finances and helped him to the current position that he is in now.
He did not only received the four months in prison however. Joe will also have to pay a $15,000 fine and be on one year of supervised release once he is free from prison.
Fat Joe has reportedly failed to pay $718,038 in taxes from 2007 – 2010. He told U.S. Magistrate Judge Cathy Waldor that he will repay the entire sum. Although he lives in Miami, FL he made monies in New Jersey through Terror Squad Production Inc., Miramar Music Touring Inc. and FJTS Corp.
Per Cliffviewpiolet.com, He remains free on $250,000 bail and must report to the U.S. Bureau of Prisons on Aug. 26 to begin serving his sentence.
We will continue to update this story as more information becomes available.
READ MORE HOT ENTERTAINMENT COVERAGE ON THEURBANDAILY.COM:
Sign-Up for TheUrbanDaily Newsletter!