AP NEWS

Albuquerque jewelry store owner pleads guilty to tax evasion

May 7, 2019

ALBUQUERQUE, N.M. (AP) — The owner of an Albuquerque jewelry store is facing up to five years in prison after pleading guilty to tax evasion.

Prosecutors say 76-year-old David Castle was indicted in February 2018.

Castle owns and operates the Gold and Silver Exchange that buys, sells and repairs jewelry.

In his plea agreement last Friday, Castle admitted that he filed no returns for his business for tax years 2010 through 2013.

He also says his business provided no tax withholdings to the Internal Revenue Service and he paid no taxes either for his business or his household.

Prosecutors say Castle’s criminal conduct resulted in a tax loss of nearly $212,000 during those tax years.

They say Castle also could be ordered to pay restitution at his sentencing date, which hasn’t been set yet.