Bay Area Boat Dealer Pleads Guilty to Tax Evasion
On Thursday, October 6, the California attorney general announced a guilty plea by Debbie Reynolds of Passage Nautical for tax evasion. Over three years, Reynolds withheld $1.3 million in sales tax revenue from her businesses in Richmond and Oakland. Reynolds pled guilty in Contra Costa County Superior Court to felony sales tax evasion.
We contacted Debbie Reynolds, who reports she chose to plead guilty to avoid a lengthy trial and possible jail time, and to continue the business so she can pay restitution and serve her customers and employees. She stated, “I regret that I did not fully pay the sales taxes to California on time. I have paid restitution. I have also hired a firm to take care of my accounting and ensure all reporting is accurate and timely.
“I am in the business, running it, and will continue to run it. The state agencies are expecting my business to continue operating and that I will be running it. I am very remorseful that this happened, and it is truly my sincere hope that people will forgive me and will want to continue to work with me and my team, who should not suffer at my negligence, and that if there is a loss of any trust or faith in me, that it can be regained.”