The Real Deal Miami

Boca Raton developer pleads guilty to tax charge

April 18, 2008 09:38AM

Boca Raton-based developer James Batmasian pleaded guilty yesterday to charges of failing to pay $253,513 in federal taxes owed from 2001 to 2003 for employees at his company, Investments Limited. Batmasian could face up to five years in prison at his July 11 sentencing, but attorney Bruce Zimet will request a milder sentence of a combination of jail time and house arrest. The 61-year-old developer has agreed to pay the government the full amount owed in back taxes as part of a plea agreement. Investments Limited is the developer behind Royal Palm Place, a high-profile mixed-use project in downtown Boca Raton.