Cobb broker who allegedly stole $1M from clients guilty of tax crime

MIAMI - FEBRUARY 02: A judges gavel rests on top of a desk in the courtroom of the newly opened Black Police Precinct and Courthouse Museum February 3, 2009 in Miami, Florida. The museum is located in the only known structure in the nation that was designed, devoted to and operated as a separate station house and municipal court for African-Americans. In September 1944, the first black patrolmen were sworn in as emergency policemen to enforce the law in what was then called the "Central Negro District." The precinct building opened in May 1950 to provide a station house for the black policemen and a courtroom for black judges in which to adjudicate black defendants. The building operated from 1950 until its closing in 1963.  (Photo by Joe Raedle/Getty Images)
MIAMI - FEBRUARY 02: A judges gavel rests on top of a desk in the courtroom of the newly opened Black Police Precinct and Courthouse Museum February 3, 2009 in Miami, Florida. The museum is located in the only known structure in the nation that was designed, devoted to and operated as a separate station house and municipal court for African-Americans. In September 1944, the first black patrolmen were sworn in as emergency policemen to enforce the law in what was then called the "Central Negro District." The precinct building opened in May 1950 to provide a station house for the black policemen and a courtroom for black judges in which to adjudicate black defendants. The building operated from 1950 until its closing in 1963. (Photo by Joe Raedle/Getty Images)

Credit: Joe Raedle

Credit: Joe Raedle

A 49-year-old precious metal broker siphoned away $1 million from clients and has been convicted of tax crimes, federal prosecutors announced Thursday.

Saleem Hakim, formerly of Smyrna, faces a year in prison for each of his three charges of failing to file federal income tax returns from 2011 to 2013.

As a precious metal broker, Hakim converted a portion of the his clients’ funds to precious metals and kept the remainder for himself.

READFeds accuse Cobb businessman of trying to bribe IRS agent


An exhibit list from trial shows records from Gucci, Louis Vuitton, watch retailer Tourneau and businesses that sell furs.

Prosecutors said he also is subject to a period of supervised released and monetary penalties.

He is set to be sentenced Feb. 26, court records show.


Like Cobb County News Now on Facebook | Follow us on Twitter

In other news...

All lanes were closed for hours as police investigated the crash Wednesday morning.

In Other News