Northfield hair salon owner admits falsifying taxes

February 24, 2010 1:48:21 PM PST
The owner of a well-known North Shore hair salon admitted in court Wednesday he skimmed hundreds of thousands of dollars from his business in a scheme to avoid paying his full tax liability.

Teddie Kossof pleaded guilty to underreporting the salon's taxable income by more than $760,000.

Prosecutors say Kossof diverted the money to a variety of business and personal expenses.

Kossof's salon had been around for more than 30 years and boasted a long celebrity client list.