Chunsheng “Jay” Huang, 67, of San Jose, was indicted nearly a year ago on charges of filing a false tax return and failing to file a report of a foreign bank or financial account, but never showed up for his court appearance, federal prosecutors said Friday.
The indictment against Huang was handed down on Nov. 1, 2022, and was sealed until opened in federal court in San Jose this week, U.S. Attorney Ismail J. Ramsey said Friday in a joint announcement with the IRS and FBI.
An arrest warrant for Huang was issued at the time of last year’s indictment, and he still has not made an appearance in the case, according to prosecutors.
According to the indictment, Huang is alleged to have been an employee of a company based in Milpitas for over 15 years while also working for companies based in the People’s Republic of China for at least six of those years.
The indictment alleges that Huang used an account with Industrial and Commercial Bank of China in his sister-in-law’s name to receive payments from two companies in China. The indictment alleges that Huang failed to report that income on his federal tax returns for 2016 through 2020.
In addition to the obligation to report foreign income for tax purposes, the indictment alleges that United States citizens and residents who have a financial interest in, or signature or other authority over, a bank account in a foreign country with an aggregate value of more than $10,000 at any time during a particular calendar year are required to file with the United States Treasury, Financial Crimes Enforcement Network for that year.
The indictment alleges that Huang failed to file the required report for the Chinese bank account for 2019 and 2020.
If convicted, Huang faces a maximum sentence of three years of imprisonment, a $250,000 fine, one year of supervised release and a $100 special assessment on the tax charge, plus 10 years of imprisonment, a $500,000 fine, three years of supervised release, and a $100 special assessment for each count of failing to report the Chinese bank account.