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Henrico used car dealer sentenced for tax evasion

Tuesday - 8/6/2013, 2:15pm  ET

RICHMOND, Va. -- A Richmond-area used car dealer has been sentenced to 2 years in prison for tax evasion.

The U.S. attorney's office says 55-year-old Samad Jafari of Henrico County was sentenced Tuesday in federal court and was ordered to pay nearly $669,000 in restitution.

In court papers, Jafari admitted providing his accountant with financial information that significantly understated the amount of cash he received for vehicle financing. He also admitted breaking large bank deposits into multiple transactions to circumvent a federal law that requires banks to report deposits of more than $10,000 to the IRS.

Jafari's company, United Import Company Inc., was ordered in March to forfeit more than $735,000 for illegally structuring financial transactions.

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