Indo-American Doctor Indicted For Conspiracy To Defraud

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WASHINGTON – An Indo-American neurosurgeon, having an account in the HSBC India branch, was today indicted for conspiracy to defrauding the Internal Revenue Service (IRS) by the US Justice Department. Dr Arvind Ahuja of Wisconsin was previously indicted in June 2011 on four counts of willfully filing materially false tax returns and four counts of failing to file Reports of Foreign Bank and Financial Accounts (FBARs).

The superseding indictment was returned today in Milwaukee. A trial date has not yet been set. According to the superseding indictment, Dr Ahuja, a board-certified neurosurgeon, wire transferred and maintained millions of dollars in bank accounts in India and the Bailiwick of Jersey at The Hongkong and Shanghai Banking Corporation Ltd. (HSBC).In 2009, the HSBC bank account in India had a balance of $8,733,785.

The superseding indictment alleges that Dr Ahuja failed to report these bank accounts to the IRS on his 2006-2009 tax returns.The indictment alleges that he failed to report more than USD 1.2 million in interest income that he earned from his HSBC India account and failed to pay the taxes due on that income.

For the 2006-2009 tax years, Dr Ahuja also failed to file FBARs to report his foreign bank accounts to the Department of the Treasury.The superseding indictment also alleges that Dr Ahuja conspired with HSBC bankers who worked at an HSBC India office in New York to conceal from the IRS the existence, ownership and income derived from his undeclared bank accounts at HSBC India and HSBC Jersey.