Hayward Man Charged With 45 Counts Of Tax Fraud
OAKLAND, Calif. – A Hayward, Calif., man was arraigned in federal court this morning after being charged by a federal grand jury in Oakland with four counts of filing a false federal income tax return and 41 counts of aiding and assisting the preparation of false tax returns, United States Attorney Melinda Haag and Internal Revenue Service-Criminal Investigation (IRS-CI) Special Agent in Charge Marcus Williams, announced.
According to the indictment, which was unsealed today, Naushad Buksh operated a business that earned gross receipts but he failed to report the business or the receipts on his 2007, 2008, 2009 and 2010 federal income tax returns. Buksh knew and believed that he was required by law to disclose this business activity. Buksh also willfully assisted in the preparation of federal income tax returns for various individuals. Those returns were false and fraudulent as to material matters. The false information on the returns included education credits, student loan interest, mortgage points, unreimbursed employee expenses, tax preparation fees, personal property taxes, charitable contributions, real estate taxes and other expenses.
Buksh was arrested this morning in Hayward.
The maximum statutory penalty for each count of making and subscribing to a false income tax return, in violation of Title 26, U.S.C § 7206(1); and aiding and assisting in the preparing of false tax returns, in violation of Title 26, U.S.C § 7206(2) is three years in prison and a fine of $250,000. However, any sentence following conviction would be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.
Tom Moore is the Assistant U.S. Attorney who is prosecuting this case with the assistance of Kathy Tat. The prosecution is the result of an investigation by IRS-CI.
Please note, an indictment contains only allegations against an individual and, as with all defendants, Buksh must be presumed innocent unless and until proven guilty.