Michael Jackson's former general manager pleads guilty to tax charges

[News_Editor]

Michael Jackson's former general manager pleads guilty to tax charges

2011-06-23 01:07:18 GMT+7 (ICT)

WASHINGTON, D.C. (BNO NEWS) -- The former general manager of the late "King of Pop" Michael Jackson, Raymone Bain, pleaded guilty on Wednesday to charges that she failed to file federal and District of Columbia income tax returns, prosecutors said.

Bain, who lives in Washington, D.C., pleaded guilty to two counts of failure to file federal income tax returns (Forms 1040) and District of Columbia income tax returns (Forms D-40). She is scheduled to be sentenced on August 31.

According to the evidence presented in court, Bain worked in the sports and entertainment industry in the District of Columbia and founded her public relations firm, Davis, Bain & Associates. Beginning in 2006, Bain became personal general manager for Michael Jackson and president of the Michael Jackson Company. In that capacity, she was responsible for daily operations of the Michael Jackson Company, including financial, public relations and marketing tasks. Bain was compensated for her services.

Despite earning substantial income, Bain knowingly failed to file her federal her District of Columbia income tax returns, and she failed to pay income taxes owed during 2006 through 2008. According to the plea documents filed in court on Wednesday, the tax loss is between $200,000 and $400,000.

The federal criminal violation carries a maximum penalty of 12 months in prison and a $100,000 fine. The District of Columbia criminal violation carries a maximum penalty of six months in prison and $5,000 fine.

Michael Jackson, recognized by the "Guinness World Records" as the most successful entertainer of all time, died on June 25, 2009 at the age of 50. He was found unconscious in bed at his rented mansion in Los Angeles.

The Los Angeles County Coroner ruled his death a homicide, mainly caused by the powerful anaesthetic Propofol which was given to him by Dr. Conrad Murray, Jackson's personal physician. He has been charged with involuntary manslaughter and faces a maximum four year state prison term if found guilty.

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