Turlock hydroponics business owner convicted of federal tax fraud

A Turlock hydroponics business owner on Monday pleaded guilty to tax fraud for failing to report more than $1.2 million in income from his business, according to the U.S. Attorney’s Office in Sacramento.

Branden Adam Eidson, 35, pleaded guilty to structuring financial transactions and filing a false tax return.

The defendant is scheduled to be sentenced March 21 and faces a maximum sentence of five years in federal prison and a $250,000 fine for the financial structuring charge. He also faces three years in prison and a $250,000 fine for filing a false tax return.

Eidson is the owner of Hooked Up Hydroponics, an equipment and supply store for indoor gardening.

Federal prosecutors said the defendant failed to accurately report his income from 2008 through 2010, costing the government more than $430,000 in tax revenue.

The prosecutors also said Eidson deposited more than $1.5 million in cash into his bank accounts in amounts of $10,000 or less to prevent banks from filing Currency Transaction Reports with the federal government.

This story was originally published December 14, 2015 at 3:04 PM with the headline "Turlock hydroponics business owner convicted of federal tax fraud."