WHITE PLAINS - A Greenwich, CT man has pled guilty in White Plains federal court to evading his income taxes for 2001 and 2002.

According to the felony information and statements made during Peter Arest’s guilty plea in federal court, he evaded income taxes for those two years by engaging in a scheme to have a hotel in which he was manager and partial owner of the 35th Street Hotel Corporation to renovate his newly purchased home in Greenwich and to pay other personal experiences.

Arest was charged with concealing his receipt of the payments by causing false invoices to be submitted and paid by the hotel, in turn causing the Hotel Metro Corporation to falsely characterize the payments as legitimate business expenses paid to third parties rather as additional compensation to Arest, and then failing to report it on his personal tax returns.

Arest, 62, pled guilty to one count of tax evasion and faces up to five years in prison when sentenced in July.