Rapper, Fat Joe, pleaded guilty on Thursday on charges that he failed to pay taxes on approximately $3 million he earned in 2007 and 2008, The Miami Herald reported today.
Joe entered the plea in a Newark, New Jersey, federal court because he owns companies in the state. According to MTV News, when U.S. Magistrate Cathy Waldor asked if the rapper understood the charges he was facing, he answered, “I super understand it.”
The 42-year-old Miami Beach, Fla., resident entered pleas to two counts covering years 2007 and 2008. His sentencing will take into consideration the government’s initial allegation that he failed to pay income taxes for years 2007 through 2010. Federal prosecutors said the total tax loss to the government for those four years was $718,038.
The judge set bail at $250,000 and Fat Joe was released. Joe’s lawyer, Jeffrey Lichtman, said the platinum-selling star “had already taken steps to resolve this situation” before he was charged with the crime.
These celebs need to pay their taxes! Us regular folks have to! LOL!