WOODRIDGE, Ill. (AP) — The Illinois attorney general says a suburban Chicago theater owner has been sentenced to nine years in state prison for a tax fraud scheme worth nearly $6 million.
State officials said Thursday that 59-year-old Ted Bulthaup of Woodridge owes the state about $2 million, the U.S. Small Business Administration more than $1 million and First Community Bank in Plainfield nearly $400,000. Bulthaup pleaded guilty in July to one count of sales tax evasion and one count of financial institution fraud.
Prosecutors say Bulthaup under-reported taxable sales at his two businesses, Hollywood Blvd. movie theater in Woodridge and Hollywood Palms theater in Naperville. They say he also understated taxable sales and he inflated income to obtain loans from the bank and state and federal agencies.
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