An international yoga business founder, known for his chain of studios under the name 'Yoga to the People,' has pleaded guilty to a tax charge in a New York federal court. Gregory Gumucio, 63, from Colorado, admitted to not paying over $2.5 million in taxes from 2012 to 2020. He has been released on bail and is awaiting sentencing in January.
Gumucio's business, which had locations across the United States, Spain, and Israel, generated over $20 million in revenue before closing four years ago. The plea agreement he reached with prosecutors could result in a five-year prison sentence for him.
During the plea proceeding, Gumucio confessed to deliberately not filing tax returns to avoid paying taxes. He mentioned that yoga teachers were paid in cash, and he did not provide them with tax forms indicating the revenue earned by the studios.
As part of the plea deal, Gumucio agreed to pay $2.56 million in restitution, along with interest, to the IRS. He expressed remorse for his actions, apologizing for not paying taxes during the specified period.
Gumucio's arrest two years ago revealed a history of multiple arrests and the use of aliases and Social Security numbers. Despite these past incidents, he was granted bail and has been living in Colorado. He did not disclose his current residence during the court appearance.
As he left the courthouse, Gumucio maintained a low profile, keeping his head bowed upon realizing he was being photographed. He declined to provide any further comments on the matter.
