Leaders of yoga studio chain Yoga to the People accused of federal tax fraud
NEW YORK -- Three leaders of the now-defunct yoga studio chain "Yoga to the People" are facing federal tax fraud charges.
The donation-based yoga chain started on the Lower East Side in 2006 and expanded nationwide.
According to investigators, the business grossed more than $20 million, but the group running the studios didn't file tax returns or pay personal income taxes for at least seven years.
Investigators say the studio leaders accepted donations in cash, paid instructors off the books and did not keep financial records.
If convicted, the defendants each face a maximum of 30 years in prison.
