Ex-owner of Albuquerque sports bar gets prison in tax case
The former owner of an Albuquerque sports bar and restaurant has been sentenced to 18 months in prison for federal income tax evasion.
Prosecutors say 59-year-old James E. Coleman Jr. also was ordered to pay more than $1 million in restitution to the Internal Revenue Service.
Coleman was the former president and owner of Sneakerz Inc., a corporation that operated Sneakerz Sports Bar.
Prosecutors say Coleman was indicted in November 2014 for tax evasion and filing false tax returns.
He pleaded guilty last June and admitted evading $1,045,939 in federal corporate and personal taxes between calendar years 2002 and 2009.
Coleman acknowledged underrepresenting Sneakerz’s gross receipts to the IRS to evade his corporate tax liability and falsely underrepresenting the income he derived from Sneakerz on his personal tax returns.