Medford real-estate broker sentenced for tax fraud

Published:

 

MEDFORD, Ore. (AP) -- A prominent Medford real-estate broker has been sentenced to more than two years in federal prison for a tax-preparation scam that targeted clients in the Bay Area.

Samuel Fung pleaded guilty to tax fraud charges and is scheduled to begin serving his sentence on Aug. 23. The 56-year-old Fung was also ordered to pay $1.7 million in restitution.

The Mail Tribune newspaper reports (http://is.gd/D7RJQN) Fung was once a big player in Jackson County's commercial real-estate scene.

According to federal prosecutors, Fung prepared at least 65 fraudulent income-tax returns for clients in California. In the returns, Fung attempted to hide taxable assets and conceal portions of his clients' income from the IRS.

A co-conspirator is scheduled to be sentenced in September.

___

Information from: Mail Tribune, http://www.mailtribune.com/