EL PASO, Texas – In a shocking turn of events, Edward Dean La Puma, the founder and sole proprietor of 77 Stone, a granite countertop business, has been sentenced to 18 months in federal prison for failure to account for and pay over trust fund taxes.
According to court documents, La Puma, 58, willfully failed to account for and pay over trust fund taxes for 20 tax periods, from the first quarter of 2018 through the last quarter of 2022. His 20 violations resulted in the tax loss of $818,096.
La Puma was indicted for 20 counts on April 24, 2024, and arrested on May 21, 2024. He pleaded guilty to one count on November 21, 2024. As part of a plea agreement, La Puma agreed to pay restitution to the IRS in the amount of $383,551.
Acting U.S. Attorney Margaret Leachman for the Western District of Texas made the announcement. The case was investigated by the IRS Criminal Investigation and prosecuted by Assistant U.S. Attorney Micaela Glass.
La Puma’s sentence is a stark reminder of the consequences of tax evasion. The IRS takes tax noncompliance very seriously and will pursue those who fail to account for and pay over trust fund taxes.
The case serves as a warning to business owners and individuals alike to ensure they are in compliance with tax laws. Failure to do so can result in severe penalties, including prison time and significant financial restitution.
As the Grimy Times continues to investigate this case, we will provide updates on any new developments.
In the meantime, La Puma will begin serving his 18-month sentence, a harsh reminder of the consequences of his actions.
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Key Facts
- State: Texas
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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