New Haven — Robert Kehayias, the owner of Pizza Works in Old Saybrook, has pleaded guilty to one count of filing a false tax return, according to the office of the U.S. Attorney for the District of Connecticut.

Kehayias, 58, waived his right to be indicted on Friday in New Haven before U.S. District Judge Jeffrey Alker Meyer.

From 2010 to 2014, Kehayias allegedly failed to report $765,733 in taxable income on his federal income tax returns, and didn't pay about $340,000 in taxes.

The U.S. Attorney's office said during this time, he deposited "only a minimal amount of cash" into the Pizza Works bank account, putting most of the cash receipts into his personal money market account. He provided his tax return preparer with reports that understated the annual gross receipts of his business.

Kehayias is scheduled to be sentenced on Jan. 16. He faces maximum prison time of three years and a fine of up to $680,000, and will have to pay back taxes, interest and penalties.

The Criminal Investigation Division of the Internal Revenue Service has been investigating this case.