Georgia Precious Metals Dealer Sentenced for Tax Fraud

Saleem Hakim was sentenced today to four years in prison following his conviction in January on charges of tax evasion and failing to file tax returns.

According to court documents and evidence introduced at trial, during at least the years 2009 through 2013, Hakim was in the business of brokering the sale of precious metals to clients. Hakim earned more than $2.8 million in commissions for converting cash to precious metals for his clients during those years which enabled him to fund a lavish lifestyle that included purchases of high-end watches, jewelry, designer accessories and furs. Despite earning substantial income during 2009 through 2013, he did not file income tax returns for those years. Hakim last filed an income tax return for tax year 1999.

The evidence introduced at trial additionally showed that, from 2020 through 2022, Hakim and his wife worked for businesses in Atlanta that were engaged in the purchase and sale of jewelry and luxury handbags. The Hakims earned a combined income of more than $260,000 for those years but did not file returns. The evidence also established that Hakim attempted to conceal his and his wife’s income from the IRS by diverting their income into a trust that he established after being initially charged with tax crimes for the years 2011 through 2013.

Hakim attempted to obstruct the investigation into his tax misconduct for 2020 through 2022. After a witness received a grand jury subpoena for records relating to income that the witness paid to Hakim and his wife, Hakim drafted a letter for the witness falsely stating that the witness did not have any business records in his possession relating to the Hakims and asked the witness to send the letter. The witness sent the letter to federal prosecutors and IRS agents.

In addition to his prison sentence, U.S. District Judge Michael L. Brown for the Northern District of Georgia ordered Hakim to serve three years of supervised release and pay $1,219,225.73 in restitution to the IRS, and $4,490.52 in prosecution costs.

Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division made the announcement.

IRS Criminal Investigation investigated the case.

Trial Attorneys Melissa S. Siskind and Colleen McCarthy of the Justice Department’s Tax Division prosecuted the case.

Acting Deputy Assistant Attorney General Goldberg thanked the U.S. Attorney’s Office for the Northern District of Georgia for the substantial assistance they provided in the investigation and prosecution of this matter. Acting Deputy Assistant Attorney General Goldberg also thanked Trial Attorney Christina Grimes and former Trial Attorneys Jeffrey Bender and Kathryn Carpenter of the Tax Division who previously worked on this matter.