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Fat Joe Guilty To Tax Evasion And Was Released On A $250,000 Bond

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Fat Joe went to court due to tax evasion after failing to pay income taxes. Fat Joe pleaded guilty and admits to not paying the $700,000 in taxes.

Fat Joe failed to pay his income taxes from the years 2007 and 2008. TMZ recently reported, Fat Joe was accused of dodging about $700,000 in income taxes over a two year period. Fat Joe went to federal court in New Jersey yesterday morning and pleaded guilty. Fat Joe was then released on a $250,000 bond.

In 2010, Fat Joe sold his $2 million Florida mansion in order to cover up his debts of $140,000. He was also given a tax lien by the State of New Jersey from 2008 in the sum of $105,000.

Fat Joe will be sentenced in April and might be facing two years in prison.

Photo credit: TMZ.com

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