Peter P. Torres, a commercial fishing boat captain from East Lyme, pleaded guilty Monday in U.S. District Court to failing to file tax returns on approximately $1.27 million he earned between 2006 and 2011. 

Torres, 47, waived his right to indictment and pleaded guilty in New Haven before Chief U.S. District Judge Janet C. Hall to one count of attempted tax evasion.

According to the office of U.S. Attorney Deirdre M. Daly and court documents, from 2006 to 2011 Torres failed to file tax returns and report to the Internal Revenue Service approximately $1.27 million in gross income generated through his work as a commercial fishing captain.

The court documents do not indicate which fishing boat Torres was associated with during the time period in question.

Torres was employed by Star LLC and Sea Ventures LLC, according to the U.S. Attorney’s office. The two companies are based in Mattapoisett, Mass., according to public records.

In pleading guilty, he admitted he was issued 1099 forms that documented his income, but failed to file tax returns and report the income and tax due to the IRS.

In his plea agreement, he agreed the tax loss for the period is between $250,000 and $550,000.

In pleading guilty, Torres admitted also that in an effort to conceal his income, he deposited pay checks for his fishing services into the bank and, on the same day, withdrew cash or obtained bank checks in varying amounts under $10,000.

Torres faces up to five years in prison and a fine of up to $250,000 when he is sentenced on Feb. 22.

As part of his plea deal, he has agreed to enter into a payment plan with the IRS to repay the back taxes and applicable penalties and interest.

The case was investigated by the Internal Revenue Service Criminal Investigation Division and is being prosecuted by Assistant U.S. Attorney Anastasia E. King.