Fat Joe Pleads Guilty To Tax Evasion, Released On $250K Bond
Do any rappers pay their taxes on time? Apparently not.
Fat Joe is the latest to own up to not paying the government a portion of his multi-million dollar fortune.
TMZ is reporting that the Terror Squad front man—born Joseph Antonio Cartagena—pleaded guilty to tax evasion charges. He entered the plea in a New Jersey courtroom this morning.
The Bronx native is accused of failing to pay approximately $700,0o0 in income taxes on earnings made in 2007 and 2008. Meanwhile, his net worth is estimated at $35 million.
After the court appearance, Joe was set free on $250,000 bond.
Since his 1993 debut, Represent, Joe has dropped 10 albums, the last of which was released in 2010. Although his album sales have never been stellar, he’s cleaned up in the singles arena thanks to tracks like “Lean Back,” and “What’s Luv.” Two weeks ago he unleashed his latest “Angels Sing 2,” off his forthcoming album The Darkside 3.
As for his tax problems, Joe is due back in court in April and faces the same amount of time handed to the likes of Beanie Sigel, who was sentenced to two years in prison for his tax bill of more than $728,000.
At press time, Joe’s rep did not respond to Hip-Hop Wired’s request for comment.