Atlantic City boardwalk rolling chair company owner pleads guilty to tax evasion

MarketsAssociated Press

The owner of a company that operates rolling chairs on the boardwalk in Atlantic City, New Jersey, has pleaded guilty to defrauding the IRS out of nearly $120,000.

Prosecutors say William Boland pleaded guilty in front of U.S. District Judge Joseph H. Rodriguez in Camden on Thursday.

Continue Reading Below

Prosecutors say Boland and two of his partners in Royal Rolling Chairs Inc. hid from the government how much their company made.

Boland lives in Ventnor. He admits his company maintained a second set of books. He faces up to five years in prison and a $250,000 fine when he's sentenced in May.

Prosecutors say no one else has been charged in the case but the investigation is ongoing.