NEW BRUNSWICK, NJ - Federal investigators arrested a New Brunswick man and certified public accountant or allegedly underreporting more than $650,000 of income on his personal tax returns.
Amit Govil, 58, was arrested at his home and charged by indictment with two counts of making and subscribing false tax returns, U.S. Attorney Craig Carpenito said in a statement.
Carpenito said documents filed in court showed that Govil is licensed in New York and New Jersey as a CPA and that he operated a sole owner of an East Brunswick company that provided risk management and audit services to community banks.
Federal investigators allege that for the the tax years 2010 and 2011, Govil underreported and failed to report the gross receipts of the company on his personal tax returns.
Through that business, which is only identified in documents as "Company A,", Govil earned more than $3.9 million in gross receipts or sales for the tax year 2010, and more than $4.3 million in gross receipts or sales for the tax year 2011, federal authorities allege.
They said Govil reported gross receipts or sales of $3,352,848 for tax year 2010, and $4,205,175 for tax year 2011, far less that the actual income for those two years.
Each count of making and subscribing false tax returns carries a maximum penalty of three years in prison and a fine of $250,000 fine or twice the gross gain from the offense.
Carpenito credited Special Agents of the IRS, under the direction of Special Agent in Charge John R. Tafur, with developing the evidence that led to the arrest. Carpenito said Assistant U.S. Attorney Courtney Howard is prosecuting the case.