Lake Forest Doctor Evades $1.6M In Taxes: DOJ

LAKE FOREST, IL — A Lake Forest doctor pleaded guilty to evading approximately $1.6 million in taxes by hiding assets and lying to the IRS, the U.S. Department of Justice announced.

According to court documents and statements, from 2011 to 2017 Krishnaswami Sriram submitted documents to the IRS that omitted investment accounts in the United States, bank and investment accounts in India, and ownership of the rental properties.

Officials said Sriram transferred ownership of two rental properties to his children in name only, while continuing to collect income from the properties. Additionally, Sriram transferred approximately $600,000 from bank accounts he controlled in the U.S. to accounts in India, according to the DOJ.

As part of Sriram's guilty plea entered Thursday, he also admitted that he caused false billing to Medicare for in-home physician care for beneficiaries that either lived in inpatient facilities or were dead. The false statements in medical records resulted in false billing to Medicare in the amount of $136,980.36.

Sriram's sentencing is scheduled for June 10 and he faces a maximum penalty of five years in prison as well as a period of supervised release, officials said.