HOUSTON – In a stunning reversal of fortune, Gilberto Parada-Arevalo has pleaded guilty to filing a false corporate income tax return, a charge that could land him behind bars for up to three years.
In a plea agreement announced by U.S. Attorney Ryan K. Patrick, the defendant admitted to falsely claiming no taxes were owed on behalf of Tamaleria Panaderia Y Pupuseria La Roca Inc. The fraudulent return was for 2011 and the tax loss is estimated at between $100,000 and $250,000.
Parada-Arevalo’s actions have cost the IRS a significant sum, and he has agreed to pay over $74,000 in restitution. The U.S. District Judge George Hanks accepted his plea and scheduled sentencing for November 16th.
The defendant now faces up to three years in federal prison and a maximum fine of $250,000. He remains on bond pending the hearing that could alter the course of his life.
Investigation into this case was conducted by IRS – Criminal Investigation, with Assistant U.S. Attorney Charles J. Escher handling the prosecution.
This is yet another reminder of the severity of financial fraud and its impact on taxpayers.
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Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: Official Source ↗
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