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In The Courts
Hotelier's Conviction for Tax Evasion Upheld
In United States v. Iskander, 2005 WL 1076545 (4th Cir. May 9, 2005), the defendant appealed his conviction on three counts of tax evasion and one count of structuring financial transactions to evade reporting requirements based on his role in skimming cash receipts and corporate checks received by two hotels he owned and operated.
The defendant controlled two corporations, each of which operated a hotel. At trial, it was shown that the defendant skimmed cash and credit card proceeds from the hotels and under-reported the hotels' gross receipts in an effort to conceal his diversion of funds. As a result of the scheme, the defendant deposited over $700,000 in corporate funds into his personal bank accounts. He also systematically structured the bank deposits below the $10,000 federal currency transaction reporting requirements. Finally, the defendant failed to pay either personal or corporate income tax on the funds. Instead, he used the underreported gross receipts amount for his corporate tax return, which not only led to no tax being paid for the hotels' business, but also led him to “write off” alleged loans made to the hotel as “bad” uncollectible debt.
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