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El Dorado County District Attorney Vern Pierson announced today the arrest of Michael Adams and Brenda Adams, the owners of Poor Reds in El Dorado, who allegedly over the last six years evaded paying almost $350,000 in taxes. Today, agents from Franchise Tax Board (FTB), Employment Development Department (EDD), Board of Equalization (BOE) and investigators from the El Dorado County District Attorney’s Office executed search warrants, with the assistance of El Dorado County Sheriff’s Deputies, at the suspects’ residence and place of business.
The case was a multi-agency investigation conducted by FTB, EDD, BOE, the El Dorado County District Attorney’s Office and the California Department of Insurance. A complaint has been filed in El Dorado County Superior Court alleging over 30 felony counts of tax evasion and insurance fraud.
The Defendants are being held on $350,000 bail in the El Dorado County jail in Placerville.