A Duson businessman faces up to half a decade behind bars, restitution and a $250,000 fine after pleading guilty in federal court to tax evasion. Larry J. Thibodeaux, 65, admitted to under-reporting both individual and business income from 2012 to 2014. According to a release from U.S. Attorney Stephanie Finley’s office, Thibodeaux shortchanged the federal government on corporate taxes to the tune of $110,970 and $137,807 on individual income taxes for a total of $248,777. He’s set to be sentenced in February.
“The prosecution of individuals who intentionally conceal income and evade taxes is a vital element in maintaining public confidence in our tax system,” Finley says in the press release announcing the plea. “Honest taxpayers should not be expected to foot the bill for those that hide income from the IRS. The U.S. Attorney’s Office will aggressively prosecute individuals who intentionally conceal income and evade taxes.”