St. Louis County Man Indicted on Tax Charges
St. Louis, MO – RAJU MUKHI was indicted for his alleged failure to file a report to the IRS on his foreign financial accounts and for filing false tax returns.
United States citizens are required to report income from foreign countries, such as bank account, securities and any other financial accounts on their tax returns. If the value is more than $10,000, they are required to file a Report of Foreign Bank and Financial Accounts, Form TD F90-22.1 (FBAR).
According to the indictment, Mukhi failed to disclose the existence of Clariden Bank and Goldman, Sachs & Company Bank-Singapore accounts and the income earned in these accounts to his tax preparers for the years 2006 and 2008. The indictment also states that Mukhi failed to file an FBAR disclosing that he had financial accounts in Singapore and Switzerland for years 2007-2010.
Mukhi, St. Louis, MO, was indicted by a federal grand jury on two felony counts of filing false tax returns and four felony counts of failure to file reports of foreign bank and financial accounts. The indictment was returned June 5th, but remained sealed until the arrest of the defendant. He is expected to appear in federal court for arraignment this morning.
If convicted, each count of filing false tax returns carries a maximum penalty of three years in prison and/or fines up to $100,000. Each of the other counts carry a maximum penalty of five years in prison and/or fines up to $250,000. In determining the actual sentences, a Judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges.
This case was investigated by the Internal Revenue Service-Criminal Investigation. Assistant United States Attorney Dianna Collins is handling the case for the U.S. Attorney's Office.
As is always the case, charges set forth in an indictment are merely accusations and do not constitute proof of guilt. Every defendant is presumed to be innocent unless and until proven guilty.