Ex-business owner convicted of tax fraud and sentenced to prison

Rapid City Business Owner Sentenced to 14 Months in Federal Prison for Payroll Tax Fraud

Rapid City business owner Asher Wagh, a co-owner of an ammunition component manufacturing company, was sentenced to 14 months in federal prison for failing to pay over a quarter million dollars in payroll taxes to the government. Chief Judge Roberto Lange handed down the sentence, which also included two years of supervised release. Wagh must also pay $273,000 in restitution to the IRS.

Between 2015 and 2017, Wagh withheld money from his employees’ paychecks but did not remit it to the IRS. According to court documents, he spent at least some of the money on his own personal expenses. In February 2021, a federal grand jury indicted Wagh on 10 counts of failure to withhold, properly account for, and pay over tax. The company dissolved in July 2022 and Wagh pleaded guilty to one of the charges in October 2023. In exchange for his guilty plea, the government dropped the other nine charges.

At sentencing, Wagh faced a maximum of five years in prison and a $250,000 fine as well as up to three years of supervised release. He is currently being held at the Pennington County Jail awaiting transportation to a federal prison.

According to South Dakota crime statistics from the Office of Attorney General for more information contact Shalom Baer Gee at sgee@rapidcityjournal.com

Leave a Reply

2024 World Series of Asphalt Wraps Up at New Smyrna Speedway on Monday Previous post Thrilling Races at New Smyrna Speedway: Tour-type Modifieds, 602 Modifieds, and More in Action on Monday
Famous ski and snowboard manufacturer files for bankruptcy Next post Determined to Survive: Antero GmbH’s Plan to Continue Operations Amid Financial Difficulties