Swiss Private Bank Banque Pictet Admits to Conspiring with U.S. Taxpayers to Hide Assets and Income in Offshore Accounts
An Atlanta precious metals broker was sentenced to 21 months in prison today following his Dec. 12, 2018, conviction by a federal jury on three counts of failing to file income tax returns, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division. Hakim has been in custody since April 12, 2019. He was arrested and jailed after he failed to appear for his original sentencing date.
According to court documents and evidence presented at trial, Saleem Hakim was in the business of brokering the sale of precious metals to clients. As a precious metals broker, Hakim received funds from clients, converted a portion of the funds to precious metals, and kept the remainder for his personal use. For the years 2011 through 2013, Hakim retained in excess of $1 million. Despite receiving income in excess of the filing thresholds and knowing his obligation to make and file tax returns, Hakim did not file any income tax returns with the Internal Revenue Service (IRS). Hakim is a former resident of Smyrna, Georgia, and Troy, Michigan.
In addition to the term of prison imposed, U.S. District Judge Michael L. Brown of the Northern District of Georgia ordered Hakim to serve one year of supervised release and to pay $639,006 in restitution to the IRS and $4,603.28 in costs of prosecution.
Principal Deputy Assistant Attorney General Zuckerman commended special agents of IRS-Criminal Investigation, who investigated the case, and Trial Attorneys Jeffrey Bender and Kathryn Sparks of the Tax Division, who prosecuted this case.
Additional information about the Tax Division and its enforcement efforts may be found on the division’s website.