Luke Jacob, Hi-Lake Liquors owner, failed to report $486,000 to IRS
Luke Jacob, owner of Hi-Lake Liquors, pled guilty yesterday to federal tax evasion.
Jacob admitted that he filed a false tax return for 2008 and failed to report over $486,000 in taxable income to the Internal Revenue Service. That cost the IRS more than $75,000, according to the United States Attorney's Office, and led to charges against Jacob.
Earlier this spring, Jacob told City Pages it was all a "misunderstanding."
Jacob's sentence will be determined by federal judge Ann D. Montgomery at a hearing yet to be scheduled. He faces a maximum of five years in prison.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you’ll never miss City Pages' biggest stories.
- Steven Timm charged with animal cruelty for harassing, drowning deer
- Cataclysmic boredom propels Stewart Mills into 2016 congressional race
- Man goes to meet prostitute with a trunk full of plastic and a giant empty suitcase