San Francisco (Jan. 27, 2004) -- A San Francisco CPA has been sentenced to two years in federal prison and fined $10,000 for income tax evasion.

Following a federal trial on five counts of tax evasion, Wade Vincent Shang, 48, was found guilty by a jury on three counts and sentenced by U.S. District Court Judge William H. Alsup. Shang was also sentenced to two years of supervised release.

Shang, a CPA and licensed attorney in California and Texas, was indicted by a federal grand jury in August 2001 and charged with attempting to evade income taxes by underreporting his income on his tax returns from 1995 to 1999.

A press release issued by the U.S. attorney's office for the Northern District of California said Shang abused his position of public trust as an attorney and CPA and attempted to obstruct justice by influencing witnesses.

-- WebCPA staff

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