Thursday, March 15, 2012
BEING MARIA (TAKE VI)....BAIL-OUT HASN'T BEEN SET! PALOS HEIGHTS RESTAURANT OWNER, GUS PAPPAS, INDICTED FOR FAILING TO REPORT $3 MILLION IN TAXES!
PALOS HEIGHTS RESTAURANT OWNER, GUS PAPPAS, INDICTED FOR FAILING TO REPORT $3 MILLION IN TAXES
By Steve Schmadeke Tribune reporter + March 15, 2012
The owner of a Palos Heights restaurant is charged with failing to report about $3 million on his tax returns.
Tinley Park resident Gus Pappas, 59, was indicted late Wednesday on six federal tax counts. He owns Mr. G’s Pancake House, which previously operated as the Palos Garden Restaurant, 7164 W. 127 th St.
From 2005 to 2007, Pappas allegedly failed to report the restaurant’s cash receipts and understated by about $2.2 million his total receipts, according to the indictment.
Pappas is also charged with falsely reporting on his personal tax returns that the restaurant lost money or brought in no more than $5,000 during those years, understating his actual corporate income by about $910,000.
Posted by Eileen at 7:06 PM