KENTUCKY – A former doctor plead guilty Friday to filing false tax returns on which he falsely reported nearly $13 million in fictitious business expenses to reduce his taxable income, officials said.
According to the documents filed with the court, Dr. Visa Haran Sivasubramaniam, of London, Kentucky, owned and operated Hematology Oncology Physicians East or HOPE, where he offered medical oncology and hematology services.
Sivasubramaniam is facing up to six years in prison and a $500,000 fine.
According to court documents, Sivasubramaniam owes more than $4.5 million in taxes to the IRS.
His sentencing is set for July 7 before U.S. District Judge Amul R. Thapar.
During a three year period, from 2007 through 2009, Sivasubramaniam earned more than $16 million in total income from HOPE, but he reported nearly $13 million worth of false and fictitious medical supply expenses to offset that income.
Sivasubramaniam admitted that for 2008 and 2009, he signed false corporate tax returns for HOPE and false personal tax returns, which reported limited taxable income and ficticious losses from HOPE when he, in fact, knew that his net income was millions of dollars more.