Tax Fraudster Behind Bars After Pleading Guilty
SANTA ANA, California: Chung Ku Sin, an auto repair business owner, pleaded guilty this Monday to a federal criminal charge for deliberately failing to report nearly $3 million in income to the IRS over a seven-year period.
His tax evasion caused a loss of USD 1 million to the United States. Sin owns Garden Grove, Golden Auto Body, Tops Auto Body, and Victory Auto Body.
The prosecutors said that Sin hid some of his profits from 2015 through 2021 by using a check-cashing business in Garden Grove. He only reported the income to his tax preparer that he deposited into his business bank accounts.
Sin falsely reported his total income in 2016 to be only $180,124 when in fact it was over $580,351. The whole matter was dealt with by the IRS Criminal Investigation Department.
He agreed to pay the default tax with interest and all the penalties. He intentionally withheld his profit receipts from his tax preparer.
United States District Judge John W. Holcomb will preside over the May 10, 2024 sentencing hearing. Sin will face a statutory maximum sentence of three years in federal prison.
