Christopher Garraty, a Florida resident formerly of Rhode Island, pleaded guilty yesterday to federal charges of tax evasion.
Garraty of New Port Richey, a commercial fisherman, admitted to failing to file federal income tax returns for over a decade, resulting in a significant loss to the IRS.
According to court documents, Garraty worked as a fisherman and deckhand for various companies operating out of New Bedford, Massachusetts. Despite earning a substantial income from his fishing activities, Garraty did not file any federal tax returns between 2002 and 2011.
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This failure to report his earnings resulted in an estimated tax loss of $413,879 to the IRS.
Garraty’s guilty plea follows a thorough investigation by the IRS Criminal Investigation unit. Authorities say Garraty used the unreported income to fund a lavish lifestyle and further conceal his financial activities.
The maximum penalty for tax evasion is five years in prison, along with a period of supervised release, restitution, and monetary penalties. Garraty is scheduled to be sentenced on September 17th, at which time a federal judge will determine the appropriate sentence based on the U.S. Sentencing Guidelines and other relevant factors.
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This case serves as a reminder that tax evasion is a serious crime with significant consequences. The IRS is committed to investigating and prosecuting individuals who attempt to evade their tax obligations.
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