A federal grand jury in Bridgeport has returned a 13-count indictment against two tobacco wholesalers who are charged with defrauding the state of approximately $5.8 million in taxes due on tobacco products imported into the state.
The Jan. 10 indictment charges both men with one count of conspiracy to commit wire fraud and to violate the Contraband Cigarette Trafficking Act, an offense that carries a maximum term of imprisonment of five years. The indictment also charges Vaswani with 12 counts and Malik with four counts of wire fraud, an offense that carries a maximum term of imprisonment of 20 years, on each count.
They were arrested on Jan. 11 and appeared before a federal judge in Bridgeport. Vaswani was released on a $250,000 bond, while Malik was held pending a detention hearing that was scheduled for Jan. 16.