Yoga Studio Founder Pleads Guilty to $2.5 Million Tax Evasion in NYC

Yoga Studio Founder Admits to Tax Evasion in NYC
Gregory Gumucio, founder of the popular "Yoga to the People" chain, pleaded guilty to a tax charge in a New York federal court on Friday. He admitted to not paying over $2.5 million in taxes from 2012 to 2020.
Gumucio's yoga studios, which generated over $20 million in revenue, were popular across the US, including in San Francisco, Berkeley, Oakland, Tempe, Orlando, and cities in Colorado and Washington. The chain even had studios in Spain and Israel.
Gumucio's plea agreement calls for a sentence of about five years in prison, the maximum he could face. He has agreed to pay $2.56 million in restitution, along with interest, to the IRS.
During the plea proceeding, Gumucio admitted to deliberately not filing tax returns to avoid paying taxes. He also said that yoga teachers were paid in cash and he did not provide them tax forms indicating how much revenue had been taken in.
Two other defendants are awaiting trial in the case.
Gumucio was arrested in 2021 and has a long history of legal trouble, including 15 previous arrests and the use of multiple aliases and social security numbers.
He was freed on $250,000 bail and is currently living in Colorado, though he did not specify where.
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- #taxevasion
- #newyorkcity
- #gregorygumucio
- #yogatothepeople
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