NEW YORK (PIX11) -- The founder of a nationwide yoga business pled guilty to eight years of tax evasion, the United States Attorney's Office announced Friday.
Gregory Gumucio, 63, the leader of Yoga to the People, admitted he did not file any tax returns or pay income taxes between 2012 and 2020, during which he received more than $3.5 million in income, prosecutors say.
From 2012 to 2020, Gumucio represented his annual income to be six figures to third parties, including a bank, a car financing company, and a real estate entity, according to court documents.
From 2010 to 2020, the business and its affiliates generated gross receipts of over $20 million, prosecutors say. Despite the income, YTTP never filed a corporate tax return with the Internal Revenue Service.
In addition to tax evasion, Gumucio and his co-conspirators failed to keep corporate books and records, manipulated subordinates into providing free labor, and used business accounts to pay for their personal expenses, prosecutors say.
Gumucio agreed to pay $2,560,300.93 in restitution to the IRS. He faces a maximum penalty of five years in prison for conspiracy to defraud the IRS.
Co-defendants Michael Anderson and Haven Soliman will be on trial on January 13. 2025.
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