Crime & Safety
Beverly Hills Man Gets Prison for Filing False Tax Returns
A Beverly Hills man was sentenced to 21 months in prison for filing bogus tax returns that failed to report millions of dollars offshore.
LOS ANGELES -- A Beverly Hills man has been sentenced to 21 months behind bars for filing bogus tax returns that failed to report millions of dollars he held in offshore accounts and the interest he earned on it, prosecutors said Friday.
Teymour Khoubian, 66, admitted filing false tax returns for 2009 and 2010, and failing to report bank accounts in Germany and Israel, according to the U.S. Attorney's Office.
As part of his sentence Thursday, Khoubian was ordered to pay a civil penalty of nearly $7.7 million, and must also pay more than $600,000 in restitution to the Internal Revenue Service, according to the U.S. Department of Justice.
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Khoubian held multiple accounts with his mother in Israel with funds totaling between $15 million and $20 million from 2005 to 2012. He also held an account in Germany since at least 2005, federal prosecutors said.
Prosecutors said the Israel bank accounts earned Khoubian interest of more than $4 million between 2005 and 2010, but none of it was reported to the IRS, leading to a tax loss of about $1.2 million.
