Shiv D. Kumar, 60, an Indian American entrepreneur from Dublin, California, has pleaded guilty in U.S. District Court in the Northern District of California, for filing a false tax return, said the Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Brian Stretch for the Northern District of California.
Hindus, Jews and Muslims comes together against hate crimes
The documents filed with the court shows that, Kumar was the sole shareholder and president of A-Paratransit Inc. (API), a company that was providing transportation services to the disabled individuals.
Kumar filed a false corporate returns with the Internal Revenue Service (IRS) for the tax years 2009 and 2010, in which he had underreported API’s gross receipts by $2,229,216 and $2,412,435, causing a tax loss of $1,584,055, according to the Justice Department.
Kumar had deposited API’s receipts into the three separate bank accounts held in different banks. Kumar has provided his accountant with false books and records, to conceal API’s true gross receipts, which has omitted gross receipts that he had diverted to two of API’s accounts. Kumar has used the unreported funds for personal expenditures, including purchasing property in the Vallejo, California area.
India house Houston rewards $100000 to Kansas hero Ian Grillot
Sentencing will be done on July 7, 2017. The statutory maximum sentence for filing a false return is three years iof imprisonment. In addition, Kumar faces a period of supervised release, restitution and monetary penalties.
By Premji
