CINCINNATI — The owner of a popular Cincinnati restaurant chain has been indicted for willfully failing to pay over employment taxes.
Cincinnati's field office for IRS Criminal Investigations said in a release that Richie's withheld federal taxes from its employee's paychecks from 2016 to 2018, but failed to file quarterly employment tax returns or transmit to the IRS the payroll taxes it collected. Owner Richard Bhoolai, the IRS said, is the person responsible for collecting and paying Richie's payroll taxes.
Bhoolai is accused of making hundreds of thousands of dollars in expenditures for "his personal benefit." The IRS said he spent more than $1 million of his business' proceeds gambling.
Hamilton County officials arrested Bhoolai Saturday in coordination with IRS Criminal Investigations. Failing to collect or pay over taxes has a maximum penalty of five years in prison and a fine as large as $250,000.
Known for its chicken and fish, Bhoolai started Richie's Chicken in the 1980s. There are now multiple locations in the Cincinnati area, including a daughter brand, Richie's Chicken and Soul.
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