WASHINGTON, D.C. (WRIC) — A former executive at a major defense contractor pleaded guilty to tax evasion on Thursday, Aug. 25, making him the fourth executive at the company to do so this year.
Zachary Friedman admitted in a D.C. court that from 2013 to 2015 he concealed $530,000 in income from the Internal Revenue Service. He had earned the money during his tenure as Chief Financial Officer in the Mina Group.
The Mina Group is a contractor that provides petroleum transportation services to the United States and other clients. Friedman was given an award for his service to the company in 2014, and now operates a loan comparison company. Friedman is also a frequent contributor to Forbes Magazine.
According to the indictment against Friedman, the Mina Group was headquartered in Dubai, where Friedman spent his time when he was not at his second residence in New York City.
In all, over the three years of fraud, prosecutors say Friedman evaded about $207,000 in taxes. He now faces up to five years in prison. He could also be subject to “a period of supervised release, restitution and monetary penalties.”