Former NC State Coach Pleads Guilty To State Tax Charges
December 11, 2013
RALEIGH – A former NC State basketball coach pleaded guilty Wednesday in Wake County District Court to tax charges filed by the North Carolina Department of Revenue.
Sidney Rochell Lowe, 53, of Wake Forest, pleaded guilty on December 11, 2013, to three counts of failure to file a North Carolina Individual Income Tax Return for the tax years 2009 through 2011.
District Court Judge Margaret Eagles sentenced Lowe to 45 days in jail. The sentence was suspended and Lowe was placed on unsupervised probation for 36 months. Lowe was ordered to pay restitution of $79,218.59 and a $2,000.00 criminal fine. He was further ordered to perform 100 hours of community service within 365 days and remain current on his tax returns. He agreed to waive his right to contest any civil findings related to the facts of this case. Lowe filed his delinquent tax returns prior to his court date. Judge Eagles stated that Lowe was a public figure with a higher obligation.
An investigation by a special agent with the Department of Revenue found that Lowe received estimated income of $962,311 in 2009 and $953,831 in 2010 from North Carolina State University as the head coach of the men’s basketball team, a radio talk show, and Adidas endorsements. Lowe received income of $659,453 in 2011 from these same sources in addition to income earned as assistant coach with the NBA’s Utah Jazz basketball team. The findings of the Department’s investigation showed that even after being contacted by the Department of Revenue, Lowe failed to file North Carolina Individual Income Tax returns for 2009, 2010, and 2011.
The charges against Lowe resulted from an investigation by a special agent with the Department’s Criminal Investigations Section in Raleigh.
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