Yoga business founder pleads guilty to tax charge in New York City
An international yoga business founder whose chain of yoga studios promoted themselves as “Yoga to the People” has pleaded guilty to a tax charge in a New York federal court
By LARRY NEUMEISTER
Published - Oct 04, 2024, 04:49 PM ET
Last Updated - Dec 16, 2024, 06:37 PM EST
NEW YORK (AP) — An international yoga business founder whose chain of yoga studios promoted themselves as “Yoga to the People” pleaded guilty on Friday to a tax charge in a New York federal court.
Gregory Gumucio, 63, of Colorado, apologized as he admitted not paying over $2.5 million in taxes from 2012 to 2020. He was freed on bail to await a Jan. 16 sentencing by Judge John P. Cronan, who questioned Gumucio during the plea proceeding.
A plea agreement Gumucio reached with prosecutors calls for him to receive a sentence of about five years in prison, the maximum amount of time he could face after pleading guilty to a single count of conspiracy to defraud the Internal Revenue Service.
Two other defendants are awaiting trial in the case.
