MOVIE EXECUTIVE INDICTED IN TAX CASE.Byline: Janet Gilmore Daily News Staff Writer Entertainment company executive Peter Hoffman was indicted INDICTED, practice. When a man is accused by a bill of indictment preferred by a grand jury, he is said to be indicted. Wednesday on tax evasion The process whereby a person, through commission of Fraud, unlawfully pays less tax than the law mandates. Tax evasion is a criminal offense under federal and state statutes. A person who is convicted is subject to a prison sentence, a fine, or both. charges. A federal grand jury indicted the 47-year-old Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. resident on two felony charges, tax evasion and subscribing to a false income tax return. Hoffman remains free and is scheduled for arraignment A criminal proceeding at which the defendant is officially called before a court of competent jurisdiction, informed of the offense charged in the complaint, information, indictment, or other charging document, and asked to enter a plea of guilty, not guilty, or as otherwise permitted Jan. 6. The indictment stems from returns filed in 1989 when Hoffman still was president and chief executive officer of Carolco Pictures Carolco Pictures, Inc. was an independent production company, that within a decade went from producing such blockbuster successes as and the Rambo series to being made bankrupt by bombs such as Cutthroat Island and Showgirls. . During his tenure at Carolco, Hoffman presided over the making of such movies as ``Terminator 2: Judgment Day.'' According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the U.S. Attorney's Office, Hoffman reported about $617,000 in income in 1989 but failed to report $426,000 in ``direct payments'' from Carolco. An additional $101,457 in other payments and personal expenses also went unreported, according to prosecutors. But Hoffman's attorney, Thomas Pollack, said the money was a loan, not income, and prosecutors have no basis for criminal action. ``The charges, pursuing it criminally, are totally unfounded and we expect to prevail at trial,'' Pollack said. In a prepared statement, released through Pollack's office, Hoffman notes that Carolco executives have told authorities that the payments were loans. Hoffman was president of Carolco Pictures for six years. He resigned in late 1991. Hoffman currently is president of CineVisions. |
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