FRESNO, Calif. — Branden Adam Eidson, 34, of Turlock, was sentenced today by United States District Judge Dale A. Drozd to three years and one month in prison and ordered to pay $433,205 in restitution for structuring cash transactions and filing false tax returns, United States Attorney Benjamin B. Wagner announced.
According to court documents, Eidson operated a hydroponics equipment and supply business, Hooked Up Hydroponics. Between 2008 and 2010, he filed false federal income tax returns by underreporting approximately $1,244,365 in gross receipts for his business, resulting in a tax loss to the Internal Revenue Service of more than $430,000. In addition, Eidson made multiple cash deposits of $10,000 or less during this same time period in an attempt to prevent his bank from filing Currency Transaction Reports. In total, Eidson made more than $1.5 million in structured cash deposits.
This case was a product of an investigation by the Internal Revenue Service, Criminal Investigation. Assistant United States Attorney Grant B. Rabenn prosecuted the case.