Let It Roll owner jailed for tax evasion
A Costa Mesa man who sells beach cruiser bikes for a living was sentenced to 27 months in jail Friday for bilking the government out of $550,000 of sales taxes, according to an announcement from the state Board of Equalization.
Douglas Payson Lachman, 59, owns the two Let It Roll bicycle shops in Newport Beach and Costa Mesa, where authorities say he hid millions of dollars of revenue.
Between 2002 and 2009, Lachman did not report $7 million worth of sales, according to the board.
Lachman pleaded guilty last year to nine counts of felony sales tax evasion.
An Orange County Superior Court judge also ordered Lachman to pay restitution of the taxes owed. So far he’s repaid $125,000, the board said in its news release.
— Jeremiah Dobruck