Former Naperville resident, banker pleads guilty to tax fraud

A onetime Naperville resident and former executive of a Bahraini bank pleaded guilty to a $1.3 million income tax fraud in federal court Wednesday.

Aamir H. Khan, 48, was charged late last month with a single count of filing a false individual income tax return, according to a statement from the U.S. Attorney’s office.

Khan, who has dual citizenship in the United States and Pakistan, voluntarily returned to the United States to face the charges, the statement said. The Doha, Qatar, resident previously lived in Naperville and was a managing director at the Unicorn Investment Bank BSC in Manama, Bahrain.

At an arraignment Wednesday, Khan admitted filing false tax returns between 2006 and 2008, the statement said. He gave inaccurate information to an accountant who prepared his returns, claiming he earned slightly more than $100,000 when his actual compensation totaled between $518,000 and $2 million.

Khan also failed to file a tax return for 2009, when his gross income was $1.2 million, the statement said. The entire tax loss to the IRS totaled $1.3 million, prosecutors said.

Khan faces a maximum of three years in prison and a $250,000 fine, the statement said. He has already made partial restitution and agreed to pay a $724,000 civil penalty for failing to report funds he maintained in five accounts in the Middle East.

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