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Jewelry store owner pleads guilty to 'cheating' on taxes
A Grand Rapids-area jeweler has pleaded guilty to willfully filing a false corporate tax return, according to U.S. Attorney Patrick A. Miles, Jr.
Michael Hoffman, owner of Hoffman Jewelers in East Grand Rapids, acknowledged to U.S. Magistrate Judge Ellen S. Carmody that he willfully filed a false income tax return for his business in 2007, and the total tax loss for 2007 through 2009 for both the business and his personal returns was $261,320, according to The U.S. Attorney’s Office, Western District of Michigan.
Hoffman has paid that amount, but still faces additional civil penalties.
Hoffman faces a sentence of three years imprisonment, a one-year period of supervised release, a fine of $250,000, costs of prosecution and a mandatory special assessment of $100.
“This is a prime example of the serious consequences for cheating on your taxes,” said Special Agent in Charge Erick Martinez. “By pleading guilty, Hoffman is acknowledging he intentionally did not report all of the earnings from his jewelry business.”
Sentencing has been set for Nov. 14 before U.S. District Judge Janet T. Neff.