Jackson, TN - Daniel Gray, of Friendship, Tennessee, pled guilty to one count of income tax evasion before U.S. District Judge J. Daniel Breen, announced Edward L. Stanton III, United States Attorney for the Western District of Tennessee. Gray faces a maximum penalty of 5 years in prison and a fine of $250,000 when he is sentenced on December 1, 2010.

Daniel and Lori Gray were indicted on February 16, 2010, charged with two counts of income evasion. According to the indictment, the Grays filed joint tax returns for 2003 and 2004 with the Internal Revenue Service (IRS). The indictment alleges that when they filed these returns they knew and believed that their taxable income for those years was substantially in excess of the amount they declared on their returns.

As part of his plea agreement, Gray agreed to plead guilty to income evasion pertaining to his 2003 federal income tax return. He admitted that the tax loss caused by his actions was $132,524.00 for tax years 2002, 2003, and 2004.

This investigation was conducted by IRS Criminal Investigation. Assistant U.S. Attorney Leigh Grinalds represented the government.

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