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Justice News

Department of Justice
U.S. Attorney’s Office
District of New Mexico

FOR IMMEDIATE RELEASE
Wednesday, December 3, 2014

Albuquerque Businessman Indicted on Federal Tax Charges

Owner of Sneakerz, Inc., an Albuquerque Sports Bar and Restaurant,
Charged with Evading Taxes and Filing False Tax Returns

ALBUQUERQUE – James E. Coleman, Jr., the president and owner of Sneakerz, Inc., a corporation that operates “Sneakerz Sports Bar” in Albuquerque, N.M., was arrested yesterday on federal tax charges, announced U.S. Attorney Damon P. Martinez and Dawn Mertz, Special Agent in Charge of the Phoenix Field Office of IRS Criminal Investigation. 

Coleman, 57, of Albuquerque, N.M., made his initial appearance in federal court this morning on a four-count indictment alleging tax evasion and subscribing false tax returns charges.  Coleman remains in custody pending his arraignment on the indictment and a detention hearing which have yet to be scheduled.

Counts 1 and 2 of the indictment allege that Coleman evaded approximately $166,320.00 in federal taxes owed by his corporation to the United States in calendar years 2008 and 2009 by filing false tax returns that underrepresented his corporation’s taxable income.  More specifically, Count 1 alleges that Coleman evaded approximately $90,661.00 in federal taxes by falsely claiming that his corporation had $621,064 in taxable income in calendar year 2008 despite knowing that the corporation had $886,128 in taxable income for that year. Count 2 alleges that Coleman evaded approximately $75,659.00 in federal taxes by falsely claiming that his corporation had $731,581.00 in taxable income in calendar year 2009 despite knowing that the corporation had $932,235.00 in taxable income for that year.

Counts 3 and 4 allege that Coleman subscribed filed individual tax returns for calendar years 2008 and 2009 that were materially false.  Each of the charges alleges that Coleman’s tax returns falsely reported that Coleman received no dividend income and no business income during those two calendar years.

If convicted, Coleman faces a maximum statutory penalty of five years in federal prison on each of Counts 1 and 2, the tax evasion charges.  Coleman faces a maximum statutory penalty of three years in federal prison if convicted on Counts 3 and 4, the subscribing false tax returns charges.  Charges in indictments are merely accusations.  Defendants are presumed innocent unless found guilty in a court of law.

This case was investigated by the Albuquerque office of IRS Criminal Investigation and is being prosecuted by Assistant U.S. Attorney Jeremy Peña.

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Updated January 26, 2015