Karen St. Pierre, a Newport, R.I., jeweler, pleaded guilty to one count of willfully filing a false individual tax return, according to the Department of Justice and the Internal Revenue Service.
According to a statement, St. Pierre’s store, the House of Windsor, generated approximately $632,522 in gross receipts in 2004. However, St. Pierre’s tax return reported only $281,780 in gross receipts. As a result, St. Pierre failed to pay approximately $64,595 in taxes, the IRS charges.
St. Pierre faces a maximum sentence of three years in prison, one year of supervised release, and a fine of up to $250,000. The U.S. District Court for the District of Rhode Island set sentencing for Jan. 6, 2012.
The plea agreement was first reached Aug. 30.