Lake Forest doctor sentenced for tax Evasion and Medicare Fraud
Krishnaswami Sriram, a 67-year-old medical doctor from Lake Forest, Illinois, has been sentenced to 34 months in federal prison for evading $1.6 million in taxes and defrauding Medicare. Sriram pleaded guilty to tax evasion in March and admitted to a pattern of concealing assets and lying to the IRS between 2011 and 2017.
Prosecutors revealed Sriram fraudulently transferred ownership of rental properties to his children while continuing to collect income from them, and moved $700,000 to bank accounts in India. He also failed to report investment accounts and property ownership to the IRS.
Beyond tax evasion, Sriram admitted to falsely billing Medicare $136,980.36 between 2012 and 2022 by claiming to provide in-home care to beneficiaries who were either hospitalized or deceased.
This isn’t Sriram’s first offense. Prosecutors argued for a harsher sentence, citing prior convictions for similar crimes in 2002, highlighting a repeated disregard for the law. Judge John Robert Blakey ultimately sentenced Sriram to 34 months, along with $1.7 million in restitution and three years of supervised release. He is scheduled to surrender to prison on November 18th.