The owner of a series of popular topless bars in the Chicagoland area is in some deep trouble with the federal government.
Michael G. Wellek,63, is facing federal charges for allegedly failing to pay millions of dollars in taxes on $12 million in cash in an Elk Grove Village warehouse, according to the Chicago Sun-Times.
Wellek owned and operated Heavenly bodies in Elk Grove Village, Skybox in Harvey and Cowboys in Markham, Illinois.
Investigators say they found piles of bags and boxes full of cash marked by date in the warehouse, according to the Sun-Times. Wellek argues the cash was taken there for counting but it was going to be deposited later.
The government does not believe Wellek, and accuse him of failing to file tax returns between 1989 to 1999, and dodging, lying and obstructing an investigation by IRS agents. Court records also indicate he failed to report $3.5 million in income in 2000.
Wellek's attorney says his client will plead guilty to the charges.
If convicted, he could face up to three years in prison for each charge.
Strip-Club Owner Hid $12 Million in Trash Bags
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last commentMust be a secure warehouse!
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From what I know of the IRS they are not going to send him to jail. They are going to want back taxes plus penalties and interest plus to force him to set up a set of outside controls that will make sure that every penny gets coutnted and taxed in the future.
People in jail aren't able to pay their back taxes.
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I have thought about the cash thing, but the way they change currency it seems like some point in time it will obviously be old money.
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