Haas Automation Owner Pleads Not Guilty To Tax Fraud

Gene Haas, owner of Haas Automation, entered a plea of not guilty on Monday, according to the U.S. Department of Justice.

Haas was arrested June 19 at his home in California and charged with federal tax fraud. Haas is accused of orchestrating a tax evasion plan that involved approximately $50 million of bogus expenses, which were put on the company's books in an attempt to avoid payment of more than $20 million in federal income taxes, according to the DOJ. He is also accused of intimidating witnesses.

A trial date has been set for Aug. 15, though there are issues officials must clear up first, according to a DOJ spokesperson.

Bond was set for $10 million and Haas was released on an unsecured bond and has until July 7 to secure the complete amount. Officials had pushed for a higher bond, stating Haas was a flight risk.

Haas Automation's 2005 revenues were at least $600 million, according to court records. Records also state that Haas Automation has locations in Belgium and Shanghai.