Indian-origin man sentenced to 5 years for Rs 258-crore tax fraud scheme in US
Aanand Shukla, a resident of Jonestown, Texas, was sentenced to 60 months in prison after pleading guilty to conspiracy to defraud the US, according to the Department of Justice (DOJ). The scheme operated between 2017 and 2025 and involved the promotion and sale of an…
Aanand Shukla, a resident of Jonestown, Texas, was sentenced to 60 months in prison after pleading guilty to conspiracy to defraud the US, according to the Department of Justice (DOJ). According to court documents and statements made in court, the tax shelter was sold.
Prosecutors said the arrangement was designed to conceal income from the Internal Revenue Service (IRS) while giving clients continued access to their money. The DOJ said Shukla was not merely a promoter of the arrangement but also personally used the tax shelter.
What Happened
He prepared trust documents, trained other people to promote the scheme and directed clients towards tax preparers whom he knew would participate in the arrangement. The case centred on an arrangement that prosecutors described as an abusive tax shelter rather than a.
The scheme operated between 2017 and 2025 and involved the promotion and sale of an abusive trust-based tax shelter to business owners across the country.
Clients were typically charged between $25,000 and $55,000 for the trust packages, while some were quoted fees as high as $225,000.
Shukla instructed participants to restructure their businesses so that approximately 98 per cent of their income would pass through a series of trusts and a private family foundation.
Key Details
Shukla's role included bringing clients into the system and helping them implement the structure in their businesses.
Through these activities, prosecutors said Shukla helped facilitate the concealment of more than $27 million in income from the IRS — equivalent to roughly ₹258 crore.
Simmons for the Western District of Texas announced the sentence.
Assistant Attorney General Colin McDonald of the Justice Department's National Fraud Enforcement Division and US Attorney Justin R.
Why It Matters
The case was investigated by IRS Criminal Investigation, while prosecutors from the Justice Department's National Fraud Enforcement Division's Tax Section handled the prosecution.
Shukla pleaded guilty to one count of conspiracy to defraud the United States on March 10.
What Reports Say
Coverage of the story so far points to:
Continued reporting by India Today as more details emerge
