I’m gone for ten days on vacation and return to find that the new news is like an instant replay of the old news. Yet another adult bookstore owner has been indicted on income tax evasion charges.
Jerry Pendergrass owned Metro News, the self described World’s Largest Adult Bookstore, and several other adult entertainment entities in Tennessee. Pendergrass allegedly purchased property but didn’t record the deed. Then, using the help of two attorneys who have also been indicted, Pendergrass was allegedly able to hide over $300,000 in proceeds from the sale of the property. Pendergrass also allegedly had about $400,000 in phony deductions and had personal expenses paid for by his corporation and not reported as income on his tax returns.
This isn’t the first time Pendergrass has been in trouble. Federal tax liens totaling over $565,000 have been filed against him. Pendergrass was convicted in the late 1990s on an obscenity charge, but the conviction was overturned.
Tags: StripClubs