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Wednesday, Apr. 23, 2014

Sikeston restaurant owner pleads guilty on tax charge

Wednesday, March 30, 2005

ST. LOUIS - A Sikeston restaurant owner entered a guilty plea to filing a false tax return.

Haralambos "Harry" Katsantonis, 49, pleaded guilty to one felony count of filing a false income tax return Tuesday. Katsandonis now faces a maximum penalty of three years in prison and a fine of $250,000. Sentencing is set for June 30.

According to the IRS Criminal Investigation, which investigated the case, Katsantonis and his family moved to Sikeston in 1994 and began operating the restaurant Jay's Crispy Fried Chicken.

The tax accountant who prepared the tax returns for the business relied upon the deposits shown in the restaurant business bank records to calculate the gross receipts of the business. A substantial amount of the restaurant business receipts were in cash, some of which Katsantonis deposited into his personal checking account. As a result, those receipts were not reflected on the business bank account records he provided the accountant and were not included in the calculations of gross receipts for that tax year.

For the years 1997, 1998 and 1999, the defendant failed to include gross receipts of the business on his tax returns in the amounts of $28,100; $70,060; and $74,925 respectively.