Indian American doctor from Chicago area sentenced to 34 months for tax evasion and Medicare fraud

In addition to prison, Sriram was ordered to pay $1.7 million in restitution and serve three years of supervised release.

Representative image / Pexels

An Indian-American physician from the Chicago area has been sentenced to 34 months in federal prison for evading $1.6 million in taxes and committing Medicare fraud, the Justice Department said Aug. 20.

Krishnaswami Sriram, of Lake Forest, Illinois, hid assets and misrepresented his finances to the IRS between 2011 and 2017. Court records show Sriram transferred ownership of two rental properties to his children without their knowledge while continuing to collect income.

He also moved roughly $700,000 from U.S. bank accounts to accounts in India. His IRS offer-in-compromise omitted these assets, resulting in a total tax loss of approximately $1.6 million, federal prosecutors alleged.

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Between 2012 and 2022, Sriram submitted false Medicare claims for in-home doctor visits that never occurred, including patients who were deceased or residing in inpatient facilities. The fraudulent billing totalled $136,980.36.

In addition to prison, Sriram was ordered to pay $1.7 million in restitution and serve three years of supervised release.

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