OAKLAND, Calif. (KTXL) — An Oakland yacht dealer pleaded guilty to evading more than $1.3 million in taxes between 2017 and 2020, California Attorney General Rob Bonta said Thursday.
According to the California Department of Justice, Deborah Reynolds did not pay the state sales tax from yacht sales and leasing deals from her companies in Richmond and Oakland.
“Tax evasion is not a victimless crime — it hurts Californians by depriving the state of critical resources and services that families need,” Attorney General Bonta said. “Deborah Reynolds purposefully evaded her obligations as a taxpayer and tried to skirt the law. I want to thank the California Department of Tax and Fee Administration, whose critical efforts were key to stopping her unlawful behavior.”
The Department of Justice said the investigation into Reynold’s business began in 2019 after a standard audit “suggested she was providing falsified tax records.”
The California Department of Tax and Fee Administration reviewed various business records and Reynolds’s own journal entries which revealed her fraud.
Reynolds pleaded guilty to one felony count of sales tax evasion and one felony count of grand theft. She will serve one year in state prison, one year of mandatory supervision after leaving prison and pay the $1.3 million owed to the state tax office.