An Ohio man, Christopher Karasarides, has been handed a one-year and one-day prison sentence for conspiring to defraud the United States.
According to court documents and statements made in court, Karasarides conspired with his father, Christos Karasarides Jr., to defraud the United States by helping his father conceal assets from the IRS. Christos Karasarides, who was convicted by a jury in January for related tax crimes, owed the IRS millions of dollars that it was trying to collect.
To thwart those efforts, Christopher helped his father hide assets from the IRS by storing $239,000 of his father’s cash in a safety deposit box in his name. He also served as a nominee owner for his father’s businesses, signed and delivered false promissory notes and filed false tax returns.
U.S. District Judge Donald C. Nugent for the Northern District of Ohio ordered Karasarides to serve three years of supervised release and pay $1.5 million in restitution to the United States.
Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Rebecca C. Lutzko for the Northern District of Ohio made the announcement.
The case was investigated by IRS Criminal Investigation, Homeland Security Investigations, the Department of Treasury’s Office of Inspector General, Stark County Prosecutor’s Office, Ohio Casino Control Commission and Ohio Organized Crime Investigations Commission-Major Crimes Task Force.
U.S. Attorneys Sam Bean and Hayter Whitman of the Justice Department’s Tax Division and Assistant U.S. Attorney David Toepfer for the Northern District of Ohio prosecuted the case.
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Key Facts
- State: Ohio
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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