A Delaware restaurateur pleaded guilty to a criminal information charging him with making a false individual income tax return. Jerrold E. Richard was a co-owner of The Big Easy Seafood and Steakhouse in Bethany Beach, Del. In 2005, Richard put the restaurant on the market for sale. He told an undercover IRS agent posing as prospective buyer that he was skimming from the restaurant and that his tax returns were understated. The IRS then executed search warrants at the restaurant and at Richard’s home. Based on the financial records recovered, the IRS determined that, although Richard reported a loss of $616 for tax year 2004, his actual taxable income was $112,114. He face up to three years in prison and a $250,000 fine.
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