Jury Convicts Southern Illinois University-Carbondale Professor of Concealing Foreign Bank Account from the Internal Revenue Service
BENTON – Dr. Mingqing Xiao, 60, of Makanda, Illinois, was convicted by a federal jury on Wednesday, May 4, 2022, in connection with lying to federal authorities about a foreign bank account in China in 2017, 2018, and 2019. Dr. Xiao, a mathematics professor and researcher at Southern Illinois University-Carbondale, was convicted of three counts of Making a False or Fraudulent Statement to the Internal Revenue Service (IRS) on his tax returns and one count of Failure to File a report of a Foreign Bank Account (FBAR). Evidence presented at the trial established that Xiao opened a foreign bank account at Ping An Bank 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, Xiao had accumulated more than $100,000 in the Chinese account. U.S. taxpayers are required to report the existence of any foreign bank account on their federal income
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