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Probation in Tax Evasion

Probation in Tax Evasion

Three brothers kept a false set of books for The Billiard Palace, 2288 Wyoming Blvd. N.E.

ABQ FREE PRESS STAFF REPORT

Three brothers, all naturalized U.S. citizens from Armenia who ran a pool hall in the Northeast Heights, have been sentenced to probation for conspiring to evade more than a quarter million dollars in corporate and personal income taxes.

Hrant Kostanian, 51, Hrair Kostanian, 56, and Gayk Kostanian, 60, were each sentenced to five years of probation. The brothers also were ordered jointly to pay $263,600 in restitution to the IRS – an amount equal to corporate income taxes they jointly evaded.

In addition, the three brothers were ordered individually to pay restitution to the IRS as follows for evading personal income taxes: Hrant Kostanian, $33,312.00; Hrair Kostanian, $20,386; and Gayk Kostanian, $16,059. Hrant Kostanian and Hrair Kostanian each were ordered to $15,810 in fines, according to the U.S> Attorney’s office.

The three brothers were indicted on Sept. 23, 2014, on charges related to corporate taxes owed from 2007 to 2010 on income generated by Pro Billiards, Inc., which operated as the Billiards Palace at 2288 Wyoming Blvd. N.E. They pleaded guilty last May.

The brothers’ use of a false set of books was discovered in 2011 when Hrair Kostanian and Gayk Kostanian discussed the prospect of selling the business with undercover IRS agents and revealed that the business generated more income than was reflected on the business’s corporate tax returns. On Feb. 23, 2011, Hrair and Gayk Kostanian showed the undercover IRS agents documents that detailed the business’s additional, unreported income, according to U.S. Attorney Damon Martinez.

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The following two tabs change content below.
Albuquerque’s definitive alternative newspaper publishing an inquisitive, modern approach to the news and entertainment stories that matter most to New Mexicans. ABQ Free Press’ fresh voice speaks to insightful and involved professionals who care deeply about our community.

Latest posts by ABQ Free Press (see all)