Export Business Owner Gets 3 Years For Concealing Income

Law360 (February 12, 2020, 8:51 PM EST) -- A California businessman will spend the next three years in federal prison for concealing his income from the Internal Revenue Service, the Department of Justice has announced.

Jyh-Chau Horng failed to report millions of dollars to the IRS from an international trading business he ran from his home in Stockton, California, according to a statement issued Tuesday by the DOJ. He was sentenced Tuesday in a California federal court. He will also serve three additional years of supervised release and pay $1.1 million in restitution.

Horng did not report his business profits from 1999 to 2008, according to the DOJ. He...

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