Portsmouth Man Sentenced for Filing a False Tax Return and Structuring Financial Transactions
NEWPORT NEWS, Va. – Adewale V. Oshin, 51, of Portsmouth, Va., was sentenced today to 18 months in prison, followed by three years of supervised release, for filing a false tax return and structuring financial transactions. He was ordered to pay restitution in the amount of $86,946.22.
Neil H. MacBride, United States Attorney for the Eastern District of Virginia, made the announcement after sentencing by United States District Judge Mark S. Davis. Oshin plead guilty on February 1, 2012.
According to court documents, Oshin, a naturalized American citizen from Nigeria, owned at least six adult nightclubs in the Tidewater area. From 2003 to 2005 the defendant deposited, or caused to be deposited, over $1.2 million dollars in cash into his personal bank accounts. He failed to report this income on his personal tax return. Additionally, Oshin structured over $170,000 in bank transactions in 2004-2005. The defendant was interviewed in 2008 and learned of a possible prosecution. Shortly thereafter, he fled to Nigeria where he remained for over three years despite attempts to extradite him. The defendant was arrested coming through Atlanta in November, 2011.
This case was investigated by Internal Revenue Service, Criminal Investigation Division. Assistant United States Attorney Brian J. Samuels prosecuted the case on behalf of the United States.A copy of this press release may be found on the website of the United States Attorney's Office for the Eastern District of Virginia at http://www.justice.gov/usao/vae. Related court documents and information may be found on the website of the District Court for the Eastern District of Virginia at http://www.vaed.uscourts.gov or on https://pcl.uscourts.gov.