Adult videos can be a lucrative business. Michael S. Morrison of Atlanta owned some adult video stores. In 2000 & 2001, he reported on his tax return lower “booth rentals” because of competition. The IRS felt otherwise. As the Atlanta Business Chronicle reports, the government investigation found that Mr. Morrison had “sticky fingers” and skimmed the money. He also underreported other income.
The result? 3 years, 10 months in prison; 3 years supervised release; community service; and pay the IRS $1.4 million.
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