The owner of a South Bay luxury vehicle export company pleaded guilty to a scheme to avoid paying income tax, according to an announcement Wednesday from federal officials.
Jie Suo, 56, of Milpitas, pleaded guilty to one count of obstructing or impeding the administration of Internal Revenue laws. She admitted in her plea that she avoided paying income tax for several years and interfered with an IRS investigation into her scheme.
Prosecutors said Suo is a sole proprietor who owned and operated Golden Source Trading and Agneau Mobility – two companies that exported luxury vehicles to China.
Suo acknowledged in her plea agreement that while her business earned more than $18 million between 2011 and 2017, she employed a scheme to avoid paying applicable income taxes and then made statements to federal agents to impede and hinder their investigation into her earnings.
Suo faces a maximum statutory sentence of up to three years in prison. In addition, as part of sentencing, the court also may order Suo to pay a fine of up to $250,000, to pay restitution of at least $997,673, and to serve an additional period of supervised release of up to a year to begin after her prison term.