Precious Metals Broker Sentenced to Prison for Willfully Failing to File Tax Returns
May 7, 2019
An Atlanta precious metals broker was sentenced to 21 months in prison following his Dec. 12, 2018, conviction by a federal jury on three counts of failing to file income tax returns. Hakim has been in custody since April 12, 2019. He was arrested and jailed after he failed to appear for his original sentencing date.
According to court documents and evidence presented at trial, Saleem Hakim was in the business of brokering the sale of precious metals to clients. As a precious metals broker, Hakim received funds from clients, converted a portion of the funds to precious metals, and kept the remainder for his personal use.
For The Years 2011 Through 2013, Hakim RetainedIn Excess of $1 Million
Despite receiving income in excess of the filing thresholds and knowing his obligation to make and file tax returns, Hakim did not file any income tax returns with the Internal Revenue Service (IRS).
Hakim is going to prison, is to serve 1 year of supervised release and was ordered to pay $639,006 in restitution to the IRS and $4,603.28 in costs of prosecution.
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