Boyd pled guilty to two misdemeanor counts of failure to file tax returns for calendar years 1996 and 1997.  He entered his plea before Magistrate Judge Arthur Boylan in St. Paul.

During his guilty plea hearing, Boyd admitted that for calendar years 1996 and 1997 he failed to file tax returns with the Internal Revenue Service, thereby failing to report his income in the amount of $153,620 and $108,721, respectfully.  The IRS calculates that as of June 2, 2002, Boyd owes the IRS a total of $276,434.65 for unpaid taxes,  including interest and penalties.

Boyd faces a maximum potential penalty of one year in prison and/or a $100,000 fine on each count of failing to file a tax return.  The actual sentence will be determined by Magistrate Judge Boylan.  Sentencing is expected in eight to ten weeks.

The case is the result of an investigation by the Internal Revenue Service - Criminal Investigation and was prosecuted by Assistant United States Attorney Frank Magill.