Lake Forest doctor sentenced for taxโฃ Evasion and Medicare Fraud
Krishnaswami Sriram, a 67-year-old medical doctor from Lake Forest, Illinois, has been sentenced toโ 34 months in federal prison for evadingโค $1.6 millionโ in taxes and defraudingโฃ Medicare. โSriram pleaded guilty to tax โevasion inโข March and admitted to a patternโ of concealing assets and lying toโข the IRS between 2011 and 2017.
Prosecutors revealed Sriram fraudulently transferred ownership of โrental properties to his children while continuing to collect income from them, and moved $700,000 to bank accountsโ in India. He also failed to โคreport investment โaccounts andโฃ property ownership to the IRS.
Beyond tax evasion, Sriram โขadmitted to falsely billing Medicare โ$136,980.36 between 2012 โand 2022 by claiming to provide in-home care to beneficiaries who were either hospitalized or deceased.
This isn’t Sriram’s firstโฃ offense. Prosecutors argued for aโค harsher sentence, โฃciting โฃprior convictions for similar crimesโ in 2002, โขhighlighting a repeated disregard for the law. Judgeโค Johnโฃ Robertโข Blakey ultimately sentenced Sriram to 34โ months, along with $1.7 million in restitution and three years of supervised โคrelease. He is scheduled to surrender to prison on โNovember 18th.