November 19, 2018

Teymour Khoubian of Beverly Hills, California, has pleaded guilty to filing false tax returns which concealed offshore accounts he held and earned income from.  Khoubian had declined to disclose the accounts under the IRS’s Offshore Voluntary Disclosure Program.  As part of his guilty plea, Khoubian agreed to a penalty of $7.7 million and an additional $612,310 in restitution to the IRS. Khoubian faces a prison sentence of three years.  DOJ

Tagged in: Abusive Tax Shelters, Criminal Proceedings, Tax Fraud,