The owner of the popular Brooklyn event space ReBar pleaded guilty to grand larceny and criminal tax fraud.
Jason Stevens was arrested in May after abruptly closing up shop, leaving many people who were planning to host their wedding receptions there out of thousands of dollars and dozens of employees without a job.
The Brooklyn District Attorney's Office says Stevens stole $200,000 in sales tax that he failed to remit to the state between 2009 and 2012
Prosecutors say he also admitted to failing to collect $1.2 million in sales tax during the same period
Authorities say prosecuting the high profile case will send a message to business owners regarding fairness.
Stevens will be sentenced to three-and-a-third to 10 years in prison.