Fat Joe Pleads Guilty To Tax Evasion, Faces Prison Time

By Staff  |  12/20/2012

Fat Joe

New York rap vet, Fat Joe, pleaded guilty to tax evasion on Friday Thursday (December 20), admitting that he failed to pay the IRS taxes dating back to 2007.

According to TMZ.com, the 42-year-old rapper (real name: Joseph Cartagena) was accused of failing to pay around $700,000 in income taxes for 2007 and 2008. He appeared in a federal court in New Jersey Thursday, admitting guilt and has been freed on a $250,000 bond.

In 2010, Joe listed his $2 million Florida mansion for sale to satisfy debts of nearly $140,000. A tax lien was also filed by the State of New Jersey from 2008 in the sum of $105,000, as well as a Mercer County, New Jersey lien for just under $32,000.

Joe is scheduled to be sentenced in April, and is facing up to two years in prison.