Strip club owner found with $12M cash gets prison

[February 07, 2011]  CHICAGO (AP) -- A prominent Chicago-area strip club owner found with $12 million in cash has been sentenced to a year in prison for tax crimes.

A tearful Michael Wellek of Libertyville told a federal judge Friday that he took full responsibility for his actions. He'd faced a maximum sentence of six years. Internal Revenue Service agents raided a warehouse near one club in 2003 and confiscated $12 million in cash stuffed in bags and boxes. Wellek argued in a 2004 lawsuit that he was holding the cash until he could count it. The 63-year-old Wellek pleaded guilty in November to failing to file a tax return for 2000 and to obstructing the IRS. Prosecutors have said he didn't pay personal income taxes for several years while his clubs apparently generated hefty profits. [Associated Press] Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.