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Los Angeles – Two adult entertainment executives, who each served as officers and shareholders of Universal Media Management (UMM), an adult entertainment business with offices in Santa Fe Springs and Cerritos, have pleaded guilty to federal tax charges.

Oscar A. Macias, 36, of Anaheim, pleaded guilty Tuesday to a one-count information charging him with subscribing to a false individual tax return for the 2003 tax year.

Macias’ former business associate, Catherine Shihad, 34, also of Anaheim, pleaded guilty September 20th to a one-count information charging her with subscribing to a false corporate tax return filed on behalf of UMM for the fiscal year ending September 30, 2004.

During the years 2003-2005, UMM’s business consisted of providing live, adult entertainment to adult customers for which the customers made cash payments to UMM.

According to Macias’ plea agreement, during the years 2003 through 2005, Macias received income from UMM that he did not report on his federal income tax returns. Macias’ failure to report his true income on the tax return he filed for the years 2003, 2004, and 2005 caused a total tax loss of approximately $32,897. Macias has agreed to file, prior to the time of sentencing, amended tax returns for the years 2003 through 2005 correctly reporting unreported income and will pay at or before sentencing all additional taxes, penalties, and interest assessed by the IRS.

According to Shihad’s plea agreement, during the years 2003 and 2004, Shihad knew that UMM kept track of its income with detailed daily logs that itemized cash received from UMM customers. Shihad was responsible for providing information regarding UMM’s income to UMM’s tax preparer. Shihad caused the tax preparer to prepare a federal corporate income tax return for the fiscal year ending September 30, 2004 which was false. UMM’s net income was substantially more than the amounts reported on the 2004 tax return. Shihad’s false statements on the 2004 tax return caused a tax loss of approximately $140,470.

Shihad has agreed to take all appropriate steps to cause UMM to file, prior to the time of her sentencing, amended tax returns for the years 2003 and 2004, correctly reporting unreported income.

As a result of this week’s guilty plea, Oscar Macias faces a statutory maximum sentence of three years in federal prison and a fine of $250,000. He is currently scheduled to be sentenced by United States District Judge Margaret M. Morrow on January 9, 2012.

As a result of last week’s guilty plea, Catherine Shihad faces a statutory maximum sentence of three years in federal prison and a fine of $250,000, when sentenced by United States District Judge Stephen V. Wilson on November 28, 2011.

The investigation into Oscar Macias and Catherine Shihad was conducted by the IRS – Criminal Investigation in conjunction with the United States Attorney’s Office for the Central District of California.