Arlington, Texas, Businessman Sentenced to Statutory Maximum of 36 Months in Federal Prison and Fined $250,000 for Omitting Nearly $5 MIllion in Income on Filed Tax Return
Defendant Also Agrees to Forfeit $1.1 Million Seized by the Government
FORT WORTH, Texas — An Arlington, Texas, businessman has been sentenced to the statutory maximum sentence following his guilty plea in August 2015 to a federal felony tax offense, announced U.S. Attorney John Parker of the Northern District of Texas.
Avan Nguyen, according to the factual resume filed in the case, operates Nava Material Goods, Inc., a wholesale business for beauty and/or nail salon products in Arlington, Texas. He was sentenced this week by U.S. District Judge John McBryde to the statutory maximum sentence of three years in federal prison, and he was also ordered to pay a $250,000 fine. He must surrender to the Bureau of Prisons on March 1, 2016.
Nguyen pleaded guilty to an Information charging aiding and assisting in the preparation and presentation of a false and fraudulent return, statement or other document. According to the plea agreement filed in the case, Nguyen agreed to forfeit $1.1 million that the government seized from his bank accounts and business in 2013. As noted in court during the sentencing hearing, Nguyen made full restitution of approximately $337,864 to the IRS prior to sentencing.
According to the factual resume filed in the case, in 2012, Nguyen aided and assisted in the preparation and presentation of Nava Material Good Inc.’s U.S. Corporate Income Tax Return (Form 1120) for 2011. When filing that return, Nguyen aided and assisted another by willfully omitting approximately $4,910,697.60 of income on the return.
IRS Criminal Investigation was in charge of the investigation. Assistant U.S. Attorney Brian Poe prosecuted the case.
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