The founder and owner of Richie’s restaurants has been charged with failing to pay employment taxes, court documents say, and used business proceeds to gamble more than $1 million.
Richard Bhoolai, 65, has been indicted in federal court in Cincinnati on a charge of willfully failing to pay employment taxes. The indictment was filed last week and unsealed Monday.
From approximately the beginning of 2017 through the fourth quarter of 2018, according to court documents, Bhoolai failed to account for and submit payroll taxes to the IRS.
And during that time, Bhoolai made hundreds of thousands of dollars in expenditures “for his personal benefit.” He is accused of using business proceeds for gambling “in excess of $1 million.”
The fast food restaurants, which feature soul food items, had between 22 and 34 employees during the time frame covered by the charges, court documents say. Its website lists three locations in Cincinnati: Avondale, Bond Hill and West End.
The indictment says Bhoolai withheld payroll taxes – including federal income tax, Medicare and Social Security –but didn’t transmit the money to the IRS.
Bhoolai faces up to five years in prison.
His attorney, Kory Jackson, could not immediately be reached for comment.
The case was investigated by special agents with IRS-Criminal Investigation.