The founder of an international yoga business that operated a chain of yoga studios and advertised itself as “bringing yoga to the people” pleaded guilty to tax charges in New York federal court on Friday.
Gregory Gamcio, 63, of Colorado, apologized after admitting he failed to pay more than $2.5 million in taxes from 2012 to 2020. He was released on bail pending a Jan. 16 ruling by Judge John P. Cronan, who questioned Gumusio during the judicial process. .
Gumucio’s plea agreement with prosecutors calls for him to serve the maximum sentence of about five years in prison if he pleads guilty to a single count of conspiracy to defraud the Internal Revenue Service.
Two other defendants are awaiting trial in the case.
Gumucio’s business generated more than $20 million in revenue and had operations in approximately 20 locations in the United States, including San Francisco, Berkeley, and Oakland, California. Tempe, Arizona. Orlando, Florida. and cities in Colorado and Washington. It also operates from studios in Spain and Israel, and was looking to expand to other countries when it closed four years ago.
When Gumusio was arrested two years ago, prosecutors said Gumusio, a Cathlamet, Wash., resident, had been arrested 15 times and had used at least six false names and three Social Security numbers. He said he claimed three places of birth.
He was eventually released on $250,000 bail by a magistrate who noted that his previous arrest was in 1992.
In court Friday, Gumusio acknowledged that he agreed to pay $2.56 million in restitution to the IRS, along with interest.
He reportedly did not pay taxes from 2012 to 2020.
“I apologize for that,” he told Cronan, adding that he was running yoga studios in Manhattan’s East Village and other parts of the United States at the time.
In cross-examination by the judge, Gumucio said the yoga instructor was paid in cash and had not provided tax returns to show how much he earned.
“I intentionally did not file a tax return to avoid paying taxes,” he said.
He said he currently lives in Colorado, but did not specify where.
As Gumusio left the courthouse, he realized he was being photographed and kept his head down. He declined to comment.
