SALT LAKE CITY (ABC4) – A Utah man has been sentenced to federal prison for operating a lucrative kickback scheme used to line his own pockets.
The U.S. Attorney’s Office in the District of Utah says Nan Ma, 39, from Washington, Utah has been sentenced to 33 months in federal prison and ordered to pay $3.2 million dollars in fines.
Authorities say Ma used his illegal earnings to purchase expensive vehicles, large homes and townhomes in the St. George area.
Ma has been ordered to pay $2,563,337 million dollars in restitution to Sound Vision Technology (SVT), the company Ma was employed with. Officials say SVT is a “high-end audio business” based in Hurricane. Ma used his position as an employee in charge of production at SVT to “solicit and obtain kickbacks for his personal benefit from Chinese companies.”
Officials say in exchange for the kickbacks, Ma provided lucrative contracts to the participating companies that would manufacture and sell products to his employer SVT.
Officials say Ma managed to overcharge SVT around $2,563,337.09 during the scheme.
Ma also failed to file financial reports with the U.S. Treasury after bringing over $10,000 into the U.S. from China.
“In so doing, Ma violated a federal law requiring that anyone who brings more than $10,000 of foreign currency into the U.S. to file a report with the U.S. Treasury,” authorities say.
Officials also discovered Ma had large amounts of cash hidden away in a variety of bank accounts.
Assistant U.S. Attorney Tyler Murray from the U.S. Attorney’s Office for the District of Utah prosecuted the case and special agents of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations and IRS-Criminal Investigation investigated the case.