Thursday, July 22, 2010

Trak Starz Plead Guilty to Failing to File Tax Returns

Posted By on Thu, Jul 22, 2010 at 10:56 AM

The Trak Starz -- Shamar Daugherty and Alonzo Lee -- yesterday pleaded guilty to multiple counts of failing to file tax returns. According to a press release issued:

Daugherty, Lee, and their various entities, had gross income of over $4.8 million for the tax years 2003 thru 2005. None of the individuals or the entities they controlled filed tax returns. Daugherty had individual gross income of $121,460 in 2003; $684,572 in 2004; and $83,906 in 2005, and failed to file his federal income tax returns for those years. The total amount of tax still due and owing by Daugherty for the years 2003, 2004, and 2005 is $256,131.

Lee's adjusted gross income was $120,359 in 2003 and $473,904 in 2004. The total amount of tax due and owing by Alonzo Lee for the years 2003 and 2004 is $144,511.

As part of the pleas, Lee and Daugherty will be required to file delinquent tax returns through 2009.

Daugherty pleaded guilty to three counts and is being sentenced November 5, while Lee pleaded guilty to two counts; his sentencing is on September 30. Each count has a maximum penalty of a year in prison and/or fines of up to $25,000.

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