Rapper Fat Joe pleaded guilty to two counts of failing to file tax returns on Thursday in a federal court here.

The musician, whose real name is Joseph Cartagena admitted to not filing tax returns in 2007 and 2008 on income of approximately $3.7 million, according to published reports. Prosecutors said he owed the government $718,038.

Fat Joe was released on bail of $250,000, and faces as much as two years in prison, a fine of $200,000 and court costs. Sentencing was scheduled for April 3.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access