An HSBC India client living in Wisconsin was indicted on Tuesday for hiding more than $8.7 million in offshore accounts and filing false U.S. income tax returns, the Justice Department said.
Arvind Ahuja, a neurosurgeon and U.S. citizen, was indicted on four counts of hiding the accounts, which held $8.7 million as of 2009, and four counts of filing false tax returns, which failed to report more than $1.2 million in interest income.
In April the Justice Department said HSBC Holdings Plc's
Other HSBC India clients have pleaded guilty to tax evasion as have numerous clients of UBS AG.
The case is USA v Arvind Ahuja, No. 11-cr-135, in U.S. District Court for the Eastern District of Wisconsin.
(Reporting by Jeremy Pelofsky; Editing by Gary Hill)