Peter Thomas, a Charlotte restauranteur and ex-husband of “Real Housewives of Atlanta” star Cynthia Bailey, has been sentenced to 18 months in prison after failing to pay $640,000 in trust fund taxes owed to the IRS. Thomas pleaded guilty to the charges in July, with the unpaid taxes relating to his Charlotte-based business, PT Media, LLC, for the quarter ending June 30, 2021.
In addition to the $640,000 owed from his Charlotte business, Thomas was also found responsible for unpaid taxes totaling $1.1 million from his businesses in Miami and Baltimore between 2021 and 2023. Despite these obligations, Thomas failed to make the necessary payments and instead diverted the funds for personal use.
Court records revealed that Thomas withdrew more than $2.5 million in cash, used $370,000 for travel expenses, and spent over $250,000 on high-end retail purchases at luxury stores such as Neiman Marcus, Prada, Louis Vuitton, and Givenchy. Thomas also caused more than $2.9 million to be transferred between various business entities, including his Charlotte restaurants and Bar One locations in Miami Beach and Baltimore.
As part of his sentencing, Thomas will be required to report to the Federal Bureau of Prisons once a federal facility is designated. His case highlights the serious consequences of failing to comply with tax obligations and diverting trust fund taxes meant for employee wages.
