San Jose man indicted after allegedly failing to disclose foreign bank accounts
A San Jose man was formally indicted last week amid allegations that he falsified tax returns and failed to disclose income from Chinese companies.
SAN JOSE — A San Jose man was indicted by a grand jury last week on allegations that he falsified tax returns and failed to disclose his Chinese bank accounts, prosecutors said.
The indictment, which was handed down on Nov. 1, 2022 but unsealed last week, accuses 67-year-old Chunsheng “Jay” Huang of working for Chinese-based companies for six years while also working at a Milpitas company. According to the indictment, he received payments from two Chinese companies using an account at the Industrial and Commercial Bank of China in his sister-in-law’s name.
That income, the indictment alleges, was not disclosed on his tax returns from 2016 through 2020. He also failed to report the income to with the United States Treasury and other required agencies over the course of that time period.
Huang was formally charged on two counts, one for making and subscribing a false tax return, and another for failure to file report of foreign bank and financial accounts. If found guilty both charges, Huang faces a maximum combined sentence of 13 years in prison and more than $750,000 in fines.