National Football League

Ex-Giants CB James facing prison time

Published May. 24, 2012 1:00 a.m. ET

foxsports

Former Giants cornerback William James has pleaded guilty to failing to pay taxes on nearly $10 million in income that he earned during his playing career.

According to The Star-Ledger, the 32-year-old, who was known for the early part of his NFL career as William Peterson, faces up to two years in prison and penalties of up to twice what he failed to pay.

James admitted in a New Jersey federal court Wednesday he did not file tax returns from 2005 to 2009, a period where he earned $9.2 million playing in the NFL.

Court documents stated James ignored his financial adviser's warnings to file the returns and disregarded countless letters from the IRS.

James was drafted in the third round by the Giants out of Western Illinois in 2001, starting 39 games for the team until he was released before the 2006 season.

He spent the next two seasons with the Eagles and started 14 games for the Lions in 2009, but did not play in the NFL last season.