Texas Man Gets 5 Year Sentence For Helping Hide $27M From IRS

India-West News Desk

AUSTIN, TX – A Texas man has been sentenced to five years in federal prison after pleading guilty to his role in promoting a tax shelter that prosecutors said was used to conceal more than $27 million in income from the Internal Revenue Service.

Aanand Shukla of Jonestown, admitted to conspiring to defraud the US in connection with the scheme, which was promoted to business owners across the country between 2017 and 2025.

The arrangement was marketed through seminars, webinars, podcasts and direct sales pitches. Clients were promised a way to eliminate taxes on nearly all of their business income while still retaining control of their money, according to court documents and statements made in court.

The scheme involved a network of trusts and a private family foundation. Shukla instructed business owners to restructure their companies so that approximately 98% of their income would flow through the trusts and foundation.

Clients were also told to pay certain personal expenses from trust accounts, including vehicle costs, entertainment and mortgage payments, and claim them as deductions, prosecutors said.

Shukla typically charged between $25,000 and $55,000 for the trust packages, although some clients were quoted fees of up to $225,000. He prepared the trust documents, trained other promoters and directed clients to tax preparers he had personally selected and knew would participate in the scheme.

Prosecutors said Shukla’s activities ultimately facilitated the concealment of more than $27 million in income from the IRS.

Shukla pleaded guilty March 10 to one count of conspiracy to defraud the United States. He was sentenced this week to 60 months in prison.