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