Furniture Retailer Pleads Guilty in El Paso

May 9, 2010  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on May 10, 2010

An El Paso furniture retailer has agreed to plead guilty to federal charges of manipulating financial records of furniture purchases and to pay a $250,000 fine, the El Paso Times reported Friday.

According to the deal, Charlotte's Inc. accepted cash payments and didn't report the transactions to the IRS. Charlotte's received $630,745 in cash from a "particular customer," the report said.

The plea agreement has not yet been accepted by the U.S. District Judge presiding over the case. The law provides for a fine of up to$500,000 in cases such as Charlotte's.