The U.S. District Attorney’s office for the District of Connecticut announced Timothy Draper, owner of T&M Lawn and Landscape in Bethel, Conn., pled guilty to one count of tax evasion.
According to court documents and statements made in court, Draper also owns multiple residential rental properties in Connecticut.
The U.S. District Attorney’s office said Draper failed to deposit numerous checks generated from his landscaping and rental businesses into his business operating accounts, resulting in underreporting of approximately $1.8 million in business receipts on his tax returns for the 2015 through 2017 tax years. The court said Draper also paid personal expenses out of the business accounts and failed to categorize such payments as personal income.
The underreporting of income resulted in the underpayment of more than $500,000 in income taxes for the three tax years.
Draper could face a maximum term of imprisonment of five years when sentenced on July 11. The court reports he paid $1,117,883.11 in back taxes, interest and penalties.
