Sung Soo Shin, of Staten Island, N.Y., president of Mission Design and Management Inc. (MDMI), pleaded guilty in the Eastern District of New York to filing a false corporate income tax return, for the fiscal year 2009, before U.S. District Court Judge Nicholas G. Garaufis, the Justice Department and the Internal Revenue Service (IRS) announced today.
According to the information and other documents filed in court, Sung Soo Shin caused MDMI to file false corporate tax returns understating its gross receipts by about $1.77 million for fiscal year 2007, $1.61 million for fiscal year 2008, and $2.35 million for fiscal year 2009. In total, Shin caused a tax loss of approximately $1,945,153.
Shin’s sentencing is set for Sept. 21, 2012. Shin faces a potential maximum sentence of three years in prison, restitution of more than $1 million and a fine of up to $250,000.
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