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Joseph Shemaria
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Latest Legal News from the Criminal Courts of Los Angeles, California and the U.S.
August 24, 2009
SAN BRUNO WOMAN SENTENCED FOR FAILING TO FILE REPORT OF FOREIGN BANK ACCOUNT (FBAR)
Relinquished 2000 Mercedes SUV and $24,178 in U.S. Currency
SAN FRANCISCO, Calif, B Iris Lai Hung Tam was sentenced today to 7 days in custody with credit for time served, followed by 2 years of supervised release, and ordered to pay a special assessment fee of $100, for willfully failing to file a Department of Treasury Report of Foreign Bank and Financial Accounts (FBAR), announced United States Attorney Joseph P. Russoniello and Special Agent in Charge, IRS-Criminal Investigation, Scott O’Briant.
Tam pleaded guilty on August 14, 2009 to a superseding information which charged her with one count of willfully failing to file a report of a foreign bank account. According to the plea agreement, Tam admitted that in 2004 she maintained a bank account with Hang Seng Bank in Shanghai, China with a balance in excess of $10,000. Tam knew she was required to file a form with the Department of Treasury reporting foreign financial transactions with this account on or before June 30, 2005 yet knowingly and intentionally failed to file this form. As part of her sentence, Tam was also ordered to submit the delinquent Department of Treasury forms (FBAR) for the tax years she maintained the foreign bank account, and ordered to attend mental health counseling,
As part of her plea, she agreed to relinquish any and all right, title and interest in her 2000 Mercedes SUV and $24,178 in U.S. currency which was seized pursuant to the execution of a federal search warrant in connection with an investigation by the Organized Crime Drug Enforcement Task Force (OCDETF) that was spearheaded by the U.S. Drug Enforcement Administration (DEA) and the Internal Revenue Service, Criminal Investigation (IRS-CI) and assisted by other federal and local law enforcement agencies.
Tam, age 65, of San Bruno, Calif. was charged in a superseding information on August 13, 2009.
Nicole M. Kim is the Assistant U.S. Attorney who is prosecuting the case. She has been assisted by Paralegal Specialist Louis Statti and Legal Technician Hui Chen.
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