A Tucson man pleaded guilty to tax evasion Thursday.
According to the IRS, 73-year-old Larry Lester Larson agreed to pay $183,382 to the U.S. government as part of his plea. He will be sentenced Nov. 16.
Larson, who was CEO and owner of State Industrial Supply Corporation, paid $413,832 personal expenses out of his business account, deducting them as business expenses to cheat on taxes.
Expenses included jewelry, a Hawaiian vacation, a personal loan, a family member's wedding expenses, an ATV, remodeling his son's home, pool service and a car lift at his own home.
"The proper reporting of expenses and income is an important requirement of business owners. In this case, the defendant wrongfully used his business to fund the purchase of lavish items. The result of this investigation reflects IRS-Criminal Investigation’s efforts to deliver justice to honest taxpayers," said IRS-Criminal Investigation Special Agent in Charge Ismael Nevarez, Jr., in a statement.
