Illinois Doctor Sentenced 34 Months Prison $1.6M Tax Evasion Medicare Fraud

Dr. Krishnaswami Sriram of Lake Forest, Illinois, was sentenced to 34 months in prison for health care fraud and tax evasion involving approximately $1.6 million owed to the IRS. Between 2011 and 2017, Sriram concealed assets by transferring two rental properties to his children without their knowledge while continuing to collect income and moved $700,000 from U.S. bank accounts to India. He submitted false documents to the IRS to reduce his tax debt, omitting ownership of investment accounts and rental properties, resulting in a tax loss of about $1.6 million. Additionally, from 2012 to 2022, Sriram committed Medicare fraud by billing for in-home physician care that never occurred, including claims for deceased patients or those in inpatient facilities, totaling nearly $137,000 in fraudulent billings. The court also ordered Sriram to pay approximately $1.7 million in restitution and serve three years of supervised release following his prison term. The case was prosecuted by the IRS Criminal Investigation unit and the Department of Justice Fraud Section.