Imtiaz Shaikh, Wire Fraud Scheme, New Hampshire 2018
Grimy Times
Manchester Man Pleads Guilty to Wire Fraud Scheme in Connection with Untaxed Tobacco Products
CONCORD - Imtiaz Shaikh, 46, of Manchester, pleaded guilty to one count of wire fraud in connection with a scheme to defraud the State of New Hampshire. The scheme involved the purchase of tobacco products other than cigarettes, referred to as “other tobacco products” or “OTP,” from various suppliers located in Pennsylvania. Shaikh and others then transported the products to New Hampshire for sale to retail businesses.
During the period of the scheme identified in the charging document, New Hampshire taxed OTP at 65.03 percent of the wholesale sales price. Shaikh avoided most of the licensing and reporting requirements by conducting business through a number of shell corporations. Except for a single report filed in September 2014, Shaikh and the entities he created failed to pay the taxes owed to the State of New Hampshire. The state lost an estimated $1.5 million in tax revenue as a result of the scheme.
“Although no one likes to pay taxes, we all are required to follow the law,” said U.S. Attorney Scott W. Murray. “This defendant’s fraud scheme deprived the state of lawful tax revenue in order to enhance his personal income. Those who choose to engage in schemes like this should understand that we are committed to the aggressive prosecution of individuals who engage in fraudulent conduct.”
Shaikh's tax evasion scheme increased the burden on New Hampshire’s law-abiding citizens, forcing them to make up the difference,” said Kristina O’Connell, Special Agent in Charge, IRS Criminal Investigation, Boston. “Today, honest taxpayers have been reassured that no one is above the law. We will continue to collaborate with our law enforcement partners on these important investigations to protect the integrity of the American tax system.”
A sentencing hearing has been scheduled for October 16, 2018.
Imtiaz Shaikh, 46, of Manchester, Defendant’s Name: Imtiaz Shaikh, Age: 46, City: Manchester, State: New Hampshire, Exact Criminal Charges: Wire fraud, Exact Date: October 16, 2018 (sentencing), Sentence or Outcome: Pending sentencing, Dollar Amounts: $1.5 million in tax revenue lost.
Key Facts
- State: New Hampshire
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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