29 September 2011

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US NRI neurosurgeon Arvind Ahuja charged for false tax information and conspiracy to defraud the Internal Revenue Service (IRS)

US NRI neurosurgeon Arvind Ahuja charged for false tax information and conspiracy to defraud the Internal Revenue Service (IRS)

According to the superseding indictment, Ahuja wire transferred and maintained millions of dollars in bank accounts in India and the Bailiwick of Jersey at The Hong Kong and Shanghai Banking Corporation Ltd. (HSBC).

Ahuja maintained bank accounts in HSBC bank
In 2009, the HSBC bank account in India had a balance of $8.7 million. The superseding indictment alleges that Ahuja failed to report these bank accounts to the IRS on his 2006-2009 tax returns.

On June 28 a Indian American neurosurgeon Arvind Ahuja was initially charged for willfully filing materially false tax returns and four counts of failing to file Reports of Foreign Bank and Financial Accounts by a federal grand jury in Milwaukee, Wisconsin.

On Wednesday he has been re-indicted by a US grand jury on new charges that
He failed to declare an HSBC bank account in India valued in 2009 at $8.7 million.

The court has added the charges of conspiracy to defraud the Internal Revenue Service (IRS).

The indictment further alleges that Ahuja failed to report more than $1.2 million in interest income that he earned from his HSBC India account and failed to pay the taxes due on that income.

The new indictment also alleges Ahuja conspired with HSBC bankers who worked at an HSBC India office in New York to conceal from the IRS the existence, ownership and income derived from his undeclared bank accounts at HSBC India and HSBC Jersey.

For the above Crimes and not disclosing bank information what Punishment Ahuja will get?

1. Ahuja faces penalty of five years in prison for the conspiracy charge

2. Fine of $250,000

3. Each false tax return charge carries penalty of three years in prison and a $250,000 fine. Thus if someone gives 3 false tax returns then for each false tax information he will be punished.

4. Each Failure to report his foreign bank account carries a penalty of 10 Years in prison and $500,000 fine.

The above punishment shows that the law is excellent and politicians have will to make their country no.1 and keep it no.1 and reduce corruption.

If such type of laws your country does not have then 100% your all political parties and politicians are corrupt in your country.

Our Indian rich people also open accounts in foreign banks and hide money.
Our Indian rich people earn money by illegal means and that money also they hide in foreign banks.

But our Indian government protects them; they do not tell us the names of such criminals.

Our Indian laws even do not sent them to Jail.

India also needs to bring such a law which will sent a rich person in Jail for 100 Years if he does not disclose his foreign bank accounts.

No need to find its legal money or black money.

You did not inform your foreign bank accounts to Indian Government so now go to Jail for 100 Years.

Reality views by sm
Thursday, September 29, 2011

Tags-News IRS USA Arvind Tax Fraud


Kirtivasan Ganesan October 01, 2011  

First things first.The HSBC bank has violated FERA and FEMA.
Punish them. HSBC should transfer assets to India.