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updated: 8/13/2014 6:59 PM

Former Naperville bank executive pleads guilty to tax evasion

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Daily Herald report

An international bank executive formerly of Naperville has pleaded guilty to federal tax evasion charges and faces up to three years in prison at sentencing later this year.

Aamir H. Khan, 43, was the managing director of a Middle Eastern bank based in Bahrain when he filed false income tax returns from 2006 through 2008 and failed to file a 2009 return, resulting in a $1.3 million loss to the U.S. government, according to prosecutors.

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He was indicted last month and has agreed to pay the U.S. a $724,000 civil penalty as well as repaying the taxes he evaded with interest.

Prosecutors said Khan failed to report funds he held in foreign bank accounts when he filed U.S. taxes.

His sentencing is slated for Nov. 24.

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