FOR IMMEDIATE RELEASE	Tuesday, December 18, 2012
Docket #: 1:12-cr-00425-LJO-SKO

FRESNO, Calif. — Ripon tax-return preparer, Sarad Chand, 51, was arraigned today before United States Magistrate Judge Sheila K. Oberto on a 10-count indictment charging him with assisting in the preparation of fraudulent tax returns, United States Attorney Benjamin B. Wagner announced today. A grand jury returned an indictment against the defendant on December 6, 2012.

According to the indictment, Chand prepared tax returns under the name S. Chand Tax & Accounting Service Inc. He allegedly assisted his clients to obtain large tax refunds by falsifying deductions and credits on the returns. The false tax returns caused the government to lose millions of dollars in tax revenues in more than four years. Chand entered a not guilty plea and was released on $100,000 bond. His next court date is set for February 19, 2013.

This case is the product of an investigation by the Internal Revenue Service, Criminal Investigation. Assistant United States Attorney Mark J. McKeon is prosecuting the case.

If convicted, Chand faces a maximum statutory penalty of three years in prison and a $250,000 fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

The charges are only allegations, and the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

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