A Lake Forest, Ill., physician has pleaded guilty to tax evasion for hiding assets and lying to the IRS about his ability to pay approximately $1.6 million in taxes.
What happened?
…
- From 2011 to 2017, Krishnaswami Sriram, MD, evaded payment of around $1.6 million owed to the IRS.
- Dr. Sriram took several actions, including transferring the ownership, on paper only, of two rental properties to his children without their knowledge, while still collecting income from the properties.
- He also transferred about $600,000 from U.S. accounts to India and submitted false documents to the IRS, omitting an investment account, Indian bank and investment accounts, and rental property ownership to evade taxes.
- Additionally,…