News

Actions

Business Owner Arrested For Tax Evasion, Fraud

CORP-Digital-Default-Image-1280x720-WTVF.png
Posted at 5:21 PM, Aug 19, 2015
and last updated 2015-09-08 04:44:00-04

NASHVILLE, Tenn. – A Nashville business owner was arrested Wednesday for sales tax evasion and fraud.

The Davidson County Grand Jury Indicted Masoud Zand on ten felony counts of sales tax evasion and one felony count of theft of property over $60,000.

Zand owned Quality Cars on Nolensville Pike in Nashville.

Officials with the Special Investigations Section of the Tennessee Department of Revenue said the indictments stem from a more than two year period that began in 2011.

In those two years, they said Zand failed to remit sales tax in the amount of $87,488.61 from sales at Quality cars. Zand’s Bond was set at $25,000.

If convicted, Zand could be sentenced to a maximum of two years in the state penitentiary and fined up to $3,000 for each count of attempted sales tax evasion.

He could also be sentenced to a maximum of 12 years in the state penitentiary and fined up to $25,000 for theft of property.

Investigators said they hope the arrest reminded other business owners of the seriousness of the crime.

“This investigation will serve as a reminder that retailers are not entitled to use or keep sales tax monies,” said Richard Roberts, Revenue Commissioner. “When sales tax revenues are collected by a retailer, they are at all times property of the state or local government, and they must be remitted to the state.”

The Department pursued the case in cooperation with District Attorney General Glenn Funk and his staff.

Citizens who suspect violations of Tennessee's revenue laws should call the toll-free tax fraud hot line at 800-372-8389.