A former Checkers CEO pleaded guilty to tax fraud Monday, according to a release from U.S. Attorney Russ Ferguson.
Michael Kahn brought the current Charlotte Checkers to the Queen City. He sold the team in 2024 but remained a minority owner.
According to court documents, the defendant founded The Michael A. Kahn Family Foundation in 2010 as a tax-exempt organization purportedly dedicated to advancing charitable, religious, and educational purposes. Federal prosecutors say between 2020 to 2023, Kahn transferred $4.5 million from his nonprofit to himself and did not report the funds as income to the IRS.
READ MORE >> Former owner of Charlotte Checkers charged with multimillion-dollar tax fraud
Kahn faces up to three years in prison. A sentencing date has not been set.