Suresh Gajwani, a Miami area investor, admitted to lying to the IRS regarding his capital gains tax obligations from a lucrative Tesla stock investment. Despite claiming residency in Puerto Rico—a territory with favorable tax laws for capital gains—Gajwani was not a resident at the time of his profit. Pleading guilty in federal court, he now faces a potential sentence of six months to one year in prison and has agreed to repay $15.3 million to the IRS, including unpaid taxes and penalties. His actions, with alleged advice from an accountant, represent a significant case of tax evasion.
Suresh Gajwani, a Miami investor, pleaded guilty to lying to the IRS about $30 million in Tesla stock profits, avoiding capital gains taxes.
Gajwani admitted to not being a Puerto Rico resident when he profited from Tesla shares and faces up to one year in prison.
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