SAN FRANCISCO – 15 November – LAWFUEL – The Law News Network – United States Attorney Kevin V. Ryan and IRS-Criminal Investigation Special Agent in Charge Roger L. Wirth announced that a federal grand jury in San Francisco indicted Minesh Krishnadas Mehta, of South San Francisco, for evading nearly half a million dollars in taxes from 1999 to 2001. Mr. Mehta was charged with tax evasion and structuring currency transactions. The indictment was returned under seal on September 21, 2005, and was unsealed today after his arrest.
According to the indictment, Mr. Mehta is alleged to have operated the following businesses: Carpark Management Corp., KT Park Corp., KT Park Management Corp., Millbrae Parking Corp., Safepark Corp., Safepark Management Corp., Milan International Corp, Neil International Corp., Sutter System Corp., Mutual Parking, Inc., Star Hotel Investments, LLC, and Place2Park, LLC.
The indictment contains three counts alleging that Mr. Mehta evaded the income tax he owed to the United States for the calendar years 1999, 2000 and 2001. According to the indictment:
1999: Mr. Mehta’s federal tax return stated that his tax due was $1,494 whereas he knew and believed that the tax due and owing to the United States for the calendar year was approximately $113,141.
2000: Mr. Mehta’s federal tax return stated that his tax due was $1,716 whereas he knew and believed that the tax due and owing to the United States for the calendar year was approximately $190,404.
2001: Mr. Mehta did not file a federal tax return for calendar year 2001 although he received taxable income upon which there was owing to the United States an income tax of approximately $199,096.
The indictment also contains twelve counts of structuring currency transactions. It is alleged that Mr. Mehta made sixty-nine cash deposits in amounts under $10,000, from October 2000 through December 2001, in order to avoid the reporting requirements generated by deposits in excess of $10,000. These alleged deposits total over $600,000.
Mr Mehta was arrested by IRS special agents on November 11, 2005 and made his initial appearance in federal court in San Francisco on November 14, 2005 and is currently out on bail. Bail was set at $200,000, $50,000 of which is to be secured by property. The defendant’s next scheduled appearance is at 9:30 a.m. on November 30, 2005 for posting of the property bond before Magistrate Judge Edward Chen.
The maximum statutory penalty for each count of tax evasion in violation of 26 U.S.C. § 7201 is five years and a fine of $250,000. The maximum statutory penalty for each count of structuring currency transactions in violation of 31 U.S.C. § 5324(a)(3) is ten years and a fine of $250,000. However, any sentence following conviction would be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.
An indictment contains only allegations against an individual and, as with all defendants, Mr. Mehta must be presumed innocent unless and until proven guilty.
Ioana Petrou and Robin Harris are the Assistant U.S. Attorney who are prosecuting the case with the assistance of legal technician Tyle Doerr. The prosecution is the result of a two year investigation by Internal Revenue Service Special Agent Sean Robertson.