NEW HAVEN, Conn. (AP) – A Connecticut business owner faces up to three years in prison for failing to pay more than $300,000 in taxes.
The U.S. Attorney’s office says Robert Kehayias, of Old Saybrook, pleaded guilty Friday in federal court in New Haven to filing a false tax return. He faces a fine of up to $680,000, back taxes, interest and penalties when he’s sentenced in January.
Court documents show Kehayias, who owns and operates an Old Saybrook pizza restaurant, deposited most of the restaurant’s cash receipts into his personal money market account and a portion of the earnings into other personal bank accounts.
Authorities say Kehayias failed to report nearly $770,000 in taxable income on his federal income tax returns from 2010 to 2014. He failed to pay about $340,000 in taxes.
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