East Bay entrepreneur charged for $3M in tax evasion
The seal of the US Department of Justice. (Photo by Greg Mathieson/Mai/Getty Images)
(KRON) — Salman Salman, 47, from Rodeo, was charged with a scheme to evade taxes by filing false forms for up to three years, U.S. District Attorney Ismail J. Ramsey said on Wednesday.
Salman is said to have failed to disclose more than $3 million of his income.
Prosecutors said Salman filed false joint income tax returns from himself and his wife for the tax years 2016 to 2019 from the three businesses they owned and operated during the course of the scheme.
The three businesses Salman owned were The Plug Tattoo & Piercing in Richmond, Inc., S&S Real Estate Investment Group in San Francisco, and Synergy Investment Group Ohio Inc. in Concord.
In the plea agreement, Salman admitted to both understating his yearly earnings and overstating his business’ expenses for tax breaks.
In total, he is set to have failed to disclose over $3.4 million in income for the three years, prosecutors said.
On December 11, 2023, Salman was charged by information with four counts of tax evasion.
Judges scheduled Salman’s sentencing hearing for September 18, 2024.
For the tax evasion charge, Salman faces a maximum prison term of five years, a maximum fine of $250,000, and restitution of at least $438,247 to the IRS.
