“Fat Joe” pleaded guilty today to criminal charges of failing to file federal income tax returns.
The 42-year-old performer — whose real name is Joseph Antonio Cartagena — appeared before Magistrate Judge Cathy Waldor in Newark federal court and admitted that he failed to file tax returns for the years 2007 and 2008.
New Jersey federal prosecutors say the rapper had received money from concerts and music sales royalties that amounted to gross income in excess of $1.3 million during 2007 and more than $1.4 million in gross income during 2008.
Cartagena also had gross incomes of $320,000 in 2009 and $680,000 in 2010, officials said, but he is only being held accountable for failing to file tax forms for a two-year period as part of a plea agreement with prosecutors.
The feds say the total tax lost by Uncle Sam when “Fat Joe” failed to pay his taxes was more than $718,000.
The rapper — who is is currently free on $250,000 bail — will face up to two years in prison and a fine totaling $200,000 when he is sentenced on April 3, officials said.
“Fat Joe,” who was recently in the news because of a well-publicized beef with “50 Cent,” maintains residences in both New Jersey and Miami Beach.
“‘Fat Joe’ has taken responsibility for his tax failures. He hopes to repay his tax indebtedness,” said the rapper’s defense attorney, Jeffrey Lichtman.