Rao Desu is a 50 percent owner of DVS Pharma in Piscataway, N.J. and a 50 percent owner of Manvihar Pharmacy in the Bronx, N.Y.
He was convicted of conspiring with two co-owners to conceal from the IRS the cash income earned by the New Jersey pharmacy between April 2004 and November 2013 and the New York pharmacy between June 2005 and November 2013.
Mr. Desu also was convicted of filing false tax returns from 2004 to 2012. In total, he was convicted of two counts of conspiracy to defraud the IRS and four counts of aiding and assisting in subscribing to false tax returns.
Mr. Desu’s sentencing has not yet been scheduled.
Mr. Desu faces a maximum penalty of five years in prison and a $250,000 fine for conspiracy to defraud the IRS. He also faces a maximum of three years in prison and a $100,000 fine for filing false tax returns.
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