Virendra Maharaj and his spouse Rosalin Prasad of Sacramento, California plotted to defraud the United States by thwarting the Internal Revenue System (IRS)‘s attempt to assess the couple’s tax liabilities.
According to U.S. Attorney Phillip A. Talbert, a Sacramento, California, couple was sentenced last week for tax-related charges and has agreed to pay more than $605,000 in restitution. According to a news statement from the Department of Justice, Virendra (Vic) Maharaj, 55, was given a 364-day jail term for wilfully neglecting to file tax return information with the U.S. Treasury pertaining to his receipt of cash while engaged in trade or commerce.
For a conspiracy to cheat the United States with respect to the Internal Revenue Service‘s assessment of income taxes, Rosalin R. Prasad, his wife, received a sentence of 24 months on probation. On December 9, 2021, they entered a guilty plea.
The investigations were carried out by IRS-Criminal Investigation. The cases were brought forth by assistant US attorneys Audrey Hemesath and Nirav Desai.
From roughly 2007 until 2016, Maharaj was an owner, general manager, and salesperson of Maharaja Motors LLC, which ran a used automobile dealership in Woodland. In 2015, Maharaj sold a vehicle to a customer and received a cash payment of more than $10,000 in return.
Maharaj wilfully neglected to submit information with the United States Treasury, especially an IRS Form 8300, which is supposed to be filed by anybody involved in certain trades or companies, including automotive sales, who gets a cash payment in excess of $10,000.
According to the DoJ, Prasad received direct payments of Maharaj’s wages, while Prasad and Maharaj’s creditors received direct payments of some of his compensation via indirect payments.
In relation to her acquisition of a $1.9 million home, Prasad improperly delayed almost $270,000 in capital gains, caused fake tax returns to be submitted in each of those years, and made false statements during an IRS examination, according to the DoJ. The DoJ said that she conspired to exclude more than $819,000 in income and, as a result, underpay more than $184,000 in federal income taxes. Furthermore, in 2005, 2006, and 2007, she earned significant tax returns.
