Teymour Khoubian, Filing False Tax Returns, California 2023
A Beverly Hills, California, businessman has been held accountable for his role in a complex tax evasion scheme, as Teymour Khoubian was sentenced to 21 months in prison for filing false tax returns.
According to court documents, Khoubian willfully failed to report foreign financial accounts in Germany and Israel, as well as income earned on those accounts, for tax years 2009 and 2010. The total tax loss associated with the Bank Leumi accounts is approximately $1.2 million.
Between 2005 and 2012, Khoubian jointly owned multiple accounts at Bank Leumi in Israel with his mother that held between $15 million and $20 million. Additionally, since at least 2005, Khoubian also owned a foreign account at Commerzbank AG in Germany.
Khoubian knowingly made multiple false statements to IRS special agents investigating his foreign accounts, including falsely stating that the Bank Leumi accounts were not in his name, that he did not own a bank account in Germany from 2005 to 2010, that he closed his German bank account and moved all of that money to the United States, and that none of the money in his German bank account was moved to Israel.
As part of his sentence, Khoubian was ordered to pay $612,310 in restitution to the IRS. Additionally, as part of his guilty plea, Khoubian paid a Foreign Bank and Financial Accounts (FBAR) penalty in the amount of $7,686,004 plus interest and penalties.
The case was prosecuted by Trial Attorneys Christopher S. Strauss and Ellen M. Quattrucci of the Tax Division, with the assistance of Assistant United States Attorney Robert Conte of the U.S. Attorney's Office for the Central District of California, and was investigated by the IRS-Criminal Investigation.
Teymour Khoubian, a Beverly Hills, California resident, was sentenced on an unspecified date for filing false tax returns, which failed to report his offshore accounts in Germany and Israel and the income earned on those accounts.
Teymour Khoubian, 68, was sentenced to 21 months in prison for filing false tax returns. He was also ordered to pay $612,310 in restitution to the IRS and a Foreign Bank and Financial Accounts (FBAR) penalty in the amount of $7,686,004 plus interest and penalties.
The Tax Division and U.S. Attorney's Office for the Central District of California are committed to prosecuting U.S. taxpayers who willfully hide offshore accounts, and the penalty for such criminal conduct is not just a financial penalty, but prison, according to Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Tax Division.
Key Facts
- State: California
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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