John Comeau, the CEO of Vivid Inc., pleaded guilty to failing to pay over $1 million in withheld employment taxes to the IRS, leading to a significant tax loss.
From 2010 through 2019, Comeau's company withheld but failed to report Social Security, Medicare, and income taxes from employee wages, resulting in $1.15 million loss.
The U.S. Attorney's Office revealed that Comeau's actions showed a direct responsibility for tax payments that were never made, violating federal tax laws.
Comeau faces a maximum of five years in prison and other financial penalties, with his sentencing scheduled for April 30.
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