Swiss Private Bank Banque Pictet Admits to Conspiring with U.S. Taxpayers to Hide Assets and Income in Offshore Accounts
A federal jury in Greenbelt convicted a Maryland man today of preparing false tax returns on behalf of his clients.
According to court documents and evidence presented at trial, Ronald Eugene Watson, also known as Sabir Muhammad, owned and operated SW Accounting Associates, a tax return preparation business located in Largo. From 2015 through 2017, Watson willfully prepared and filed tax returns on behalf of his clients reporting to the IRS false information, including fictitious or overstated business expenses and sham unreimbursed employee expenses. The false deductions reduced clients’ tax liability, often resulting in large, inflated refunds to which they were not entitled. According to witness testimony, Watson varied his preparation fees depending on the amount of the refund requested, with fees typically ranging from approximately $500 up to approximately $1,500.
Watson is scheduled to be sentenced on June 13, 2023, and faces a maximum penalty of three years in prison for each false return count, as well as a period of supervised release and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Erek L. Barron for the District of Maryland made the announcement.
IRS-Criminal Investigation are investigating the case.
Trial Attorney Matthew L. Cofer of the Justice Department’s Tax Division and Assistant United States Attorney G. Michael Morgan, Jr. of the District of Maryland are prosecuting the case.