Area man sentenced on wire fraud charges
CONCORD – U.S. Attorney Scott Murray said Imtiaz Shaikh, 46, of Manchester, was sentenced on Monday to 16 months in prison for participating in a wire fraud scheme to defraud the state of New Hampshire out of tobacco excise tax revenue.
According to court documents and statements made in court, except for a single report filed in September 2014, Shaikh and the entities he created failed to pay the taxes owed to the State of New Hampshire. The state lost an estimated $2.8 million in tax revenue as a result of the scheme.
In addition to the sentence of imprisonment, the court ordered Shaikh to pay restitution to the State of New Hampshire in the amount of $2,845,270, and ordered that he forfeit $132,538 in seized funds.
Shaikh previously pleaded guilty to wire fraud on June 29, 2018.
“This scheme swindled the State of New Hampshire out of much needed tax revenue,” Murray said. “The defendant’s conduct effectively made each honest taxpayer the victim of fraud. In order to protect the public treasury, we will always work closely with our law enforcement partners to identify and prosecute those who choose to engage in fraudulent conduct.