The former owner of the Charlotte Checkers has been indicted on federal tax fraud charges.
Federal prosecutors say Michael A. Kahn is charged with filing false tax returns and failing to report income he allegedly took from his charitable foundation. The U.S. Attorney’s Office for the Western District of North Carolina said in an indictment unsealed Thursday that the 65-year-old Kahn faces four federal charges — two counts of aiding and assisting in the preparation of a false tax return and two counts of failing to file a tax return.
According to court documents, prosecutors allege that while leading the Michael A. Kahn Family Foundation, Kahn transferred more than $4.5 million from the nonprofit to himself and failed to report the money as income on his 2020 and 2021 tax returns.
Prosecutors also say Kahn did not file tax returns in 2022 and 2023.
Kahn pleaded not guilty during a court hearing Thursday in uptown and was released on bond. If convicted, he could face up to three years in prison for each count.
Kahn owned the Charlotte Checkers from 2006 until selling his majority stake in 2024 to Zawyer Sports & Entertainment. At the time, the team said Kahn would remain as the largest minority partner. The Checkers didn't immediately return a request for comment Thursday.
