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SIUC professor convicted for concealing foreign bank account from IRS

Dr. Mingqing Xiao, 60, of Makanda, was convicted Wednesday, May 4 by a federal jury on three...
Dr. Mingqing Xiao, 60, of Makanda, was convicted Wednesday, May 4 by a federal jury on three counts of making a false or fraudulent statement to the Internal Revenue Service on his tax returns and one count of failure to file a report of a foreign bank account.(Southern Illinois University Carbondale)
Published: May. 6, 2022 at 3:47 PM CDT
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BENTON, Ill. (KFVS) - A Southern Illinois University Carbondale professor was convicted for lying to federal authorities about a foreign bank account.

Dr. Mingqing Xiao, 60, of Makanda, was convicted Wednesday, May 4 by a federal jury on three counts of making a false or fraudulent statement to the Internal   Revenue Service on his tax returns and one count of failure to file a report of a foreign bank account.

The court dismissed two other counts of wire fraud filed against Xiao. In addition, he was found not guilty of a false statement charge.

Those charges were all related to alleged fraud in connection with a grant he obtained from the National Science Foundation.

Xiao is a mathematics professor and researcher at SIUC.

According to an SIU spokesperson, Xiao remains on paid administrative leave.

“Any discipline will be in accordance with the collective bargaining agreement between SIU and the SIU Faculty Association,” the statement from the spokesperson said. “That agreement includes opportunities for Dr. Xiao to respond to any allegations.”

Before his court appearance, some students and colleagues on campus voiced their support for him.

According to a news release, evidence presented at the trial showed Xiao opened a foreign bank account in China in 2016 and received monthly deposits into the account from Shenzhenalo University in Shenzhen, China from 2016 to 2020. Some of the funds were linked to additional sources in China.

By 2020, court documents say he had accumulated more than $100,000 in the Chinese account.

U.S. taxpayers are required to report any existing foreign bank accounts on their federal income tax returns. In addition, anyone with more than $10,000 in foreign accounts at any time during a given year are required to file an FBAR with the Treasury Department.

Xiao is facing up to three years in prison, one year of supervised release and a $100,000 fine on the charge of making and subscribing false income tax returns. He faces up to five years in prison, three years of supervised release and a fine of $250,000 for the charge of failing to file an FBAR.

His sentencing is set for August 11.

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