Saleem Hakim has been sentenced to four years in prison following his conviction in January on charges of tax evasion and failing to file tax returns.
According to court documents and evidence introduced at trial, during at least the years 2009 through 2013, Hakim was in the business of brokering the sale of precious metals to clients.
Hakim earned more than $2.8 million in commissions for converting cash to precious metals for his clients during those years, which enabled him to fund a lavish lifestyle that included purchases of high-end watches, jewellery, designer accessories and furs.
Despite earning substantial income from 2009 through 2013, he did not file income tax returns. Hakim last filed an income tax return for tax year 1999.
The evidence introduced at trial additionally showed that, from 2020 through 2022, Hakim and his wife worked for businesses in Atlanta that purchased and sold jewellery and luxury handbags.
The Hakims earned a combined income of more than $260,000 for those years but did not file returns. The evidence also established that Hakim attempted to conceal his and his wife’s income from the IRS by diverting their income into a trust he established after being initially charged with tax crimes from 2011 through 2013.
Hakim attempted to obstruct the investigation into his tax misconduct for 2020 through 2022. After a witness received a grand jury subpoena for records relating to income that the witness paid to Hakim and his wife, Hakim drafted a letter for the witness falsely stating that the witness did not have any business records in his possession relating to the Hakims and asked the witness to send the letter. The witness sent the letter to federal prosecutors and IRS agents.
In addition to his prison sentence, U.S. District Judge Michael L. Brown for the Northern District of Georgia ordered Hakim to serve three years of supervised release and pay $1,219,225.73 in restitution to the IRS and $4,490.52 in prosecution costs.
