NASCAR team owner Gene Haas pleads guilty to $34 million tax fraud

And you thought you had tax troubles...

LOS ANGELES (AP) -- A NASCAR team owner pleaded guilty Monday to defrauding the government of more than $34 million in taxes. Gene Haas, the 54-year-old owner of Oxnard-based Haas Automation and NASCAR's Haas CNC Racing, agreed to pay a fine, back taxes and interests totaling more than $70 million, the U.S. Attorney's office said.

Haas pleaded guilty to a felony conspiracy charge for orchestrating a plan to list bogus expenses that could be written off as business costs and save Haas Automation millions in taxes. Haas, of Camarillo, was scheduled to be sentenced Nov. 5. Prosecutors recommended he serve two years in federal prison and six months probation, according to his plea agreement. A call Monday to Haas Automation, which makes computerized machine tools, was not immediately returned.

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