CHICAGO — A prominent Chicago-area strip club owner found with $12 million in cash has been sentenced to a year in prison for tax crimes.
A tearful Michael Wellek of Libertyville told a federal judge Friday that he took full responsibility for his actions. He'd faced a maximum sentence of six years.
Internal Revenue Service agents raided a warehouse near one club in 2003 and confiscated $12 million in cash stuffed in bags and boxes. Wellek argued in a 2004 lawsuit that he was holding the cash until he could count it.
The 63-year-old Wellek pleaded guilty in November to failing to file a tax return for 2000 and to obstructing the IRS. Prosecutors have said he didn't pay personal income taxes for several years while his clubs apparently generated hefty profits.
Saturday, February 5, 2011
It Takes A Mighty Big Garter Belt To Hold $12M
Club Owner Sentenced For Hoarding $12 Without Paying Taxes