AUSTIN (KXAN) - Mike Yassine pleaded guilty on Wednesday to engaging in a tax fraud scheme using his Austin nightclubs.
Appearing before U.S. District Judge Sam Sparks, the same judge who sentenced him to 12 years in prison on money laundering charges in January, Yassine took the stand to admit his guilt to lying on tax documents.
Yassine admitted that in Oct. 2010, he provided a professional tax preparer with false information to be included in his 2009 federal income tax return.
According to court documents, the figures provided by Yassine understated by hundreds of thousands of dollars the actual gross receipts generated by his downtown nightclubs.
Two other tax fraud charges were dropped against Yassine as part of the plea deal. He will not be eligible for parole for at least three years on this charge and cannot appeal the judge's decision. A sentencing date has yet to be scheduled.
Yassine was indicted on the tax fraud charges in Oct. 2012.
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