Brooklyn Man Pleads Guilty To Tax Fraud
MADISON, WIS. --John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that Eric Grace, 50, Brooklyn, Wis., pleaded guilty today in U.S. District Court in Madison to tax fraud.
Had the case gone to trial, the government would have proven that in 2010, Grace filed a false income tax return. Grace underreported the gross receipts from his business, E.J.’s Paint and Repair, by $129,559, resulting in Grace underreporting his gross income.
Although Grace entered a guilty plea to filing a false return in 2010, in the plea agreement, he agreed to pay back taxes from 2008 – 2011 in the amount of $166,000, prior to his sentencing hearing.
U.S. District Judge James D. Peterson scheduled sentencing for September 15, 2014 at 1:00 p.m. Grace faces a maximum penalty of five years in federal prison.
The charge against Grace is the result of an investigation conducted by IRS Criminal Investigation. The prosecution of this case has been assigned to Assistant U.S. Attorney Rita M. Rumbelow.