New Canaan Man Pleads Guilty to Tax Evasion

New Canaan Man Pleads Guilty to Tax Evasion

Vishal Dhar, 55, of New Canaan, has pleaded guilty to tax evasion after waiving his right to be indicted.

According to court documents, Dhar formed and operated various entities, including Grey Brown, Inc. and Oaxaca Taqueria. From October 2013 to August 2023, Dhar willfully failed to disclose significant income from his business and gifts from family members to the Internal Revenue Service.

Instead of paying his outstanding tax liabilities, Dhar used financial accounts in the names of entities and other individuals, paid personal expenses with corporate funds, and omitted significant assets on IRS forms.

Dhar also failed to disclose the receipt of an Employee Retention Credit check in the amount of $254,203.01 in a bankruptcy case filed in the Southern District of New York.

As part of the plea agreement, Dhar has agreed to pay $272,390.07 in restitution for back taxes, penalties, and interest owed from 2011 to 2020.

Judge Stefan R. Underhill scheduled sentencing for August 15, at which time Dhar faces a maximum term of imprisonment of five years.

The matter is being investigated by the Internal Revenue Service – Criminal Investigation Division, and the case is being prosecuted by Assistant U.S. Attorney David T. Huang.

Dhar is released pending sentencing.

The plea deal marks the latest in a string of high-profile tax evasion cases in the state of Connecticut.

In a statement, U.S. Attorney Vanessa Roberts Avery said, ‘Tax evasion is a serious crime that undermines the integrity of our tax system.’

The IRS-CID’s Harry T. Chavis, Jr., added, ‘We will continue to work to ensure that individuals who attempt to cheat the system are held accountable.’

The case is a reminder of the importance of paying taxes and the consequences of attempting to evade them.

A full copy of the plea agreement is available online.