A Morgan City man has been convicted of failing to report a significant amount of income on his tax return, resulting in a substantial loss to the U.S. Treasury.
Victory Nam Ho, 39, of Morgan City, Louisiana, pleaded guilty before U.S. Magistrate Judge Carol Whitehurst to one count of filing a false tax return on Wednesday.
According to the guilty plea, Ho engaged in stock transactions and made $251,196 in 2012, but when he filed his taxes, he reported $14,742 as his income. This resulted in him paying no income tax that year, which led to a loss of $69,167 to the U.S. Treasury.
The defendant faces up to three years in prison, one year of supervised release, restitution, and a $100,000 fine. The court set an August 31, 2018 sentencing date.
The Internal Revenue Service (IRS) conducted the investigation, and Assistant U.S. Attorney Kelly P. Uebinger is prosecuting the case.
Ho’s actions were discovered during a thorough IRS investigation, which revealed the significant discrepancy in his reported income. This case serves as a reminder of the importance of accurate tax reporting and the consequences of failing to do so.
As a result of his guilty plea, Ho will face the consequences of his actions, including the potential for imprisonment and financial penalties.
Key Facts
- State: Louisiana
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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