ALBUQUERQUE, N.M. — Hak Ghun, 62, of Durango, Colo., the former chief executive officer of BCDS Manufacturing Inc. in Shiprock, N.M., was sentenced last week to a year and a day in federal prison and two years of supervised release for his tax evasion conviction, the U.S. Attorney’s Office said in a news release.
Ghun also will be required to pay the Internal Revenue Service $249,567 in restitution, the release said.
According to the indictment, Ghun was accused of using BCDS Manufacturing funds to pay his personal expenses and evaded personal tax obligations on these funds by concealing his conduct from the company’s corporate accountant and by filing false corporate tax returns on behalf of BCDS.
Ghun admitted taking funds from BCDS bank accounts between 2005 and 2007 and spending the money on support payments to his ex-wife and paying for luxury cars, hotel stays and gambling, federal prosecutors said.
5:33am 2/26/13 — Former Navajo project director pleads guilty to evading taxes
By ABQnews Staff
Hak Ghun, 62, of Durango, Colo., pleaded guilty in U.S. District Court in Albuquerque last week to federal tax evasion charges, federal prosecutors said in a news release.
Under terms of a plea agreement, Ghun will serve 12 to 18 months in prison and will be required to pay $249,567 in restitution to the Internal Revenue Service, the U.S. Attorney’s Office said.
Ghun was chief executive officer of BCDS Manufacturing Inc., a manufacturing company located in Shiprock.
He was charged in April 2012 with evading a total of $367,809 in federal taxes during the tax years 2005, 2006 and 2007, prosecutors said.
In 2003 and 2004, the Navajo Nation invested economic development funds in BCDS, and according to the original indictment Ghun used BCDS funds to pay personal expenses but evaded his personal tax obligations on those funds, according to the release.
7:30am 5/16/12 — Colo. Businessman Arraigned in ABQ
By ABQnews Staff
Hak Ghun, 61, of Durango, Colo., was arraigned in U.S. District Court in Albuquerque Tuesday on a three-count indictment charging him with federal income tax evasion, the U.S. Attorney’s Office said in a news release.
Ghun entered a not-guilty plea to the indictment, which charges him with evading a total of $367,809 in federal taxes during the tax years 2005, 2006 and 2007, the release said. He was released pending trial under conditions of release and pretrial supervision.
According to the indictment, Ghun evading paying income taxes by concealing his use of corporate funds for personal purposes and by filing false business tax returns in an effort to hide the money, federal prosecutors said.
The penalty for conviction on each count of the indictment is five years in prison and a $100,000 fine.
Ghun was chief executive officer of BCDS Manufacturing Inc., a manufacturing company located in Shiprock, and according to the indictment did not draw a salary but instead used corporate funds to pay his personal expenses — allegedly spending $1,078,170 of BCDS funds for his personal expenses between 2005 and 2007, the release said.
BCDS folded in 2007 when the Navajo Nation ousted Ghun, who was found in a tribal audit to have used nearly $5 million in company funds on personal expenses and cash withdrawals, according to earlier reports.