Beanie Sigel Admits to Tax Fraud

Beanie Sigel Admits to Tax Fraud

The MC faces three years in prison for tax fraud.

Published August 13, 2011

The tax man has finally caught up with Beanie Sigel. The MC's attorney Fortunato Perri Jr. confirmed this week that Jay-Z's former protege admitted in federal court that didn't pay his taxes between 2003 and 2005, and now faces up to three years in prison. His sentencing is scheduled for November 18.

The IRS estimates Sigel owes $350,000 of back taxes, a figure his attorney contests. "We intend to raise issues at the sentencing hearing which we believe will change those loss figures," Perri Jr. told MTV News. "We're going to ask the court to review our issues that we raised and our calculations, and it's our hope that those numbers will be successfully challenged at the time of the sentencing hearing."

Sigel, who spent time in jail in 2004 on weapons charges, claims that though he was making money during his Roc-A-Fella days, he didn't get everything he deserved. "From the outside looking in, it's like, 'Yo he's getting it,' " Sigel said before breaking down the financial splits between him and his business partners at Roc-A-Fella. "The clothing line, it was my idea — the State Property line, I only owned 20 percent of that. It was my idea, I brought that to the table. I brought the movie scripts which led up to all those movies, [with] us that played in it — people don't know we only got SAG wages. We ain't get no money from that."

Maybe Beanie should be thankful he didn't get those extra Bens back then, or he may be facing more jail time today.

Written by Smriti Mundhra


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