AUSTIN (KXAN) - An Austin businessman plead guilty in federal court for not paying corporate income taxes.
According to the Department of Justice, Richard Culleton, President of First E-Commerce, Inc. d/b/a Discount Electronics, underreported taxable income on his 2006 and 2007 tax returns for Discount Elecronics.
He is accused of evading the payment of an estimated $110,000 in corporate income taxes.
Discount Electronics sells computer parts and accessories. According to the company's website, " DiscountElectronics.com is honored on the 2008, 2009 and 2010 Austin Business Journal's 'Fast 50' list as the 13th fastest growing private company in Austin with revenue over $10M."
Culleton is currently on bond. His sentencing is scheduled for June 6; if convicted, Culleton faces up to five years in prison.
The investigation was conducted by the Internal Revenue Service-Criminal Investigation.
Even though there were no reports of iced over bridges or roadways like last week, officials are urging people to use extra caution while driving.
Travis County District Attorney Rosemary Lehmberg heads to court this week as a defendant in a civil trial that could oust her from office.
A 55-year-old man died in a single-vehicle crash just after midnight Monday morning near Lakeway.
More than 100 trees covered in lights now shine bright throughout Zilker Park. The Trail of Lights is open for another season.
Texas will face one of the nations top offenses in their second straight trip to the Alamo Bowl
A 10-year-old was killed while standing outside of a vehicle which lost control during the icy conditions, DPS said.