Over one three-year span, Fat Joe made nearly $3 million. Unfortunately, he didn’t pay taxes on his profits and now faces up to two years in prison, after pleading guilty to tax evasion on Thursday.
“The performer, whose real name is Joseph Cartagena, entered the plea in federal court in New Jersey because some of the companies he earns money from are incorporated there.
“The 42-year-old Miami Beach, Fla., resident entered pleas to two counts covering years 2007 and 2008 but his sentencing will take into consideration the government’s initial allegation that he failed to pay income taxes for years 2007 through 2010. Federal prosecutors said the total tax loss to the government for those four years was $718,038.” [Miami Herald]
Joe Crack was released on $250,000 bond and will be sentenced on April 3, 2013.