Gurmail Singh, a resident of Richmond Hill in New York, pleaded guilty yesterday in US District Court in the Eastern District of New York, the Justice Department and Internal Revenue Service said.
Singh faces a potential maximum sentence of three years in prison and a maximum fine of USD 250,000. Sentencing is scheduled for January 6, 2014.
According to the indictment, court records and admissions made by Singh, he used check-cashing services to cash more than USD 2.9 million in checks paid to his construction company, Fancy and Vicky Construction Co. Inc. in Richmond Hill, for services between 2006 and 2008.
Gurmail Singh faces a potential maximum sentence of three years in prison.
Singh concealed his check-cashing activities from his tax return preparers, and this income was not included as gross income on the company's tax returns, prosecutors alleged.
Singh diverted cash receipts earned by his companies for his own personal use. He admitted that his failure to report Fancy and Vickys gross receipts caused a tax loss of between USD 400,000 and USD 1 million, the Department of Justice said.