The Universities of Wisconsin-Platteville’s mascot was arrested on March 19 on charges of Tax Fraud and financial misconduct.

Platteville police allege that Pete – best known for his rugged good looks – failed to report income made from his OnlyFans and an underground side hustle involving the illegal reselling of UW-Platteville’s merchandise. The mascot had reportedly been selling signed sweatshirts and ball caps as “limited edition” Platteville merch.

“Frankly, we should have seen it coming,” said Detective Buzz Kil, who led the investigation. “It’s not so much as a surprise as it is a little disappointing.”

University officials have been quick to distance themselves from Pete’s alleged crimes, though some students claim the signs were there all along.

“Pete hasn’t had a real job in decades,” said a senior accounting major who wished to remain anonymous.

Another student was reported as saying, “honestly, I can’t blame the guy? In this economy I wouldn’t report that income either.”

Many students have criticized campus police for how public Pete’s arrest was. The mascot was placed into handcuffs outside of Ullsvik while yelling, “try taxing this” before sprinting away from the police and being tackled outside of Bridgeway.

It is rumored that Pete may face additional charges of resisting arrest.

“This is a dark day for the Pioneers,” said university bad news representative Amy Stake. “We are fully cooperating with authorities and will conduct an internal review to determine how deep financial fraud goes.”

Pete is currently awaiting trial at Grant County Jail without bail. If convicted, he faces up to 30 years in federal prison and could be permanently removed as the school’s mascot.

The university has already begun considering possible replacements, with early suggestions including “Settler Steve” who was deemed a more financially responsible alternative to Pioneer Pete, “Audit Andy” who is an accountant and “Bucky Badger but he has a Cowboy Hat,” because why not.