Crime

Yoga Studio Founder Admits to $2.5 Million Tax Evasion: Yoga to the People Founder Faces Jail Time

Abc News1 min read98 views
Yoga Studio Founder Admits to $2.5 Million Tax Evasion: Yoga to the People Founder Faces Jail Time

Yoga Studio Founder Admits to $2.5 Million Tax Evasion: Yoga to the People Founder Faces Jail Time

The founder of an international yoga chain, “Yoga to the People,” has admitted to evading over $2.5 million in taxes. Gregory Gumucio, 63, pleaded guilty in a New York federal court to a tax charge stemming from his business operations between 2012 and 2020.

Gumucio's chain of yoga studios operated in over 20 locations across the United States, including major cities like San Francisco, Berkeley, Oakland, Tempe, Orlando, and several cities in Colorado and Washington. The chain also had studios in Spain and Israel, and was looking to expand further before closing four years ago.

Gumucio, who was arrested two years ago, faces a maximum sentence of five years in prison under the plea agreement with prosecutors. He has agreed to pay $2.56 million in restitution to the IRS, along with interest.

During the plea proceeding, Gumucio admitted that he intentionally did not file tax returns to avoid paying taxes. He also revealed that yoga teachers were paid in cash, and he did not provide them with tax forms to report their income.

Gumucio's sentencing is scheduled for January 16, 2024.

  • #yoga
  • #taxevasion
  • #gregorygumucio
  • #yogatothepeople
  • #newyorkcity

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