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Smith failed to pay a total of $821,415 in federal income taxes.
Guy Smith intentionally failed to report to his tax preparer, and to the IRS, income he received from Centerline Interiors and from gambling.
The remaining contenders for the Democratic nomination are Greenwich businessman Ned Lamont, who received the party’s endorsement at its recent convention, and Bridgeport Mayor Joe Ganim, who collected enough signatures to be included.
Both political parties’ primaries will be held on Aug. 14; the general election will take place on Nov. 6.