U.S. Department of Justice Marcos Daniel Jiménez United States Attorney for the Southern District of Florida
	99 N.E. 4 Street Miami, FL 33132 (305) 961-9001

GUILTY PLEA TO MAKING FALSE STATEMENTS ON CORPORATE TAX RETURNS

Marcos Daniel Jiménez, United States Attorney for the Southern District of Florida, and Lorraine Johnson, Acting Special Agent in Charge of the Internal Revenue Service, Criminal Investigative Division, announced today that Pino Enterprises, Inc. pled guilty today to a four-count Information of making false statements on corporate tax returns for the calendar years 1995, 1996, 1997, and 1998 before United States District Court Judge Kenneth A. Marra at the Federal Courthouse in Fort Lauderdale, Florida. Pino Enterprises Inc. faces a fine of up to $500,000 for each count plus back taxes of over $200,000 to the Internal Revenue Service. Sentencing is scheduled for April 29, 2003, before Judge Marra.

Count One in the Information charges for calendar year 1995 that defendant Pino Enterprises Inc. falsely reported a loss of $303,700 on its Subchapter S Corporate Return.

Count Two in the Information charges for calendar year 1996 that defendant Pino Enterprise Inc. falsely reported a loss of $56,784 on its Subchapter S Corporate Return.

Count Three in the Information charges for calendar year 1997 that defendant Pino Enterprises Inc. falsely reported a loss of $420,127 on its Subchapter S Corporate Return.

Count Four in the Information charges for calendar year 1998 that defendant Pino Enterprises Inc. falsely reported a loss of $176,565 on its Subchapter S Corporate Return.

During the years 1995, 1996, 1997 and 1998, Pino Enterprises Inc. was controlled by its President Peter Pino who during that time was involved in the tile business in South Florida under the name of Pino tile. Peter Pino sold the tile business on January 1, 2002, and the current criminal charges do not have anything to do with the current Pino Tile stores in South Florida.

Mr. Jiménez commended the investigative efforts of the Internal Revenue Service, Criminal Investigation. The case is being prosecuted by Assistant United States Attorney Jeffrey H. Kay.

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