Michael Sang Han , formerly of Palm Beach, FL was sentenced to four years in prison on charges of two counts of tax evasion following his conviction for a multi-million dollar tax evasion scheme.
Han owned and operated Envion, a company in which he claimed held the patent on converting plastics into fuel oil. Starting in 2004, Han convinced two individuals to invest more than $40 million in his company.
Instead, between 2004 and 2011, Han used the money for personal expenditures, which included flying in private jets, expensive meals and adult entertainment and luxury cars such as BMWs, a Range Rover and a Ferrari costing over $440,000. Han purchased a West Palm Beach house for $3 million, and paid an additional $2 million on renovations.
Han concealed the investment money from his tax preparers and did not report the income on his tax returns, specifically for the years 2010 and 2011.
In addition to prison time, Han was ordered to pay restitution to the IRS in the amount of $4,954,027 and three years of supervised release.