Strategic Federal And State Criminal Defense

Sacramento accountant arrested for $4 million tax fraud scheme

On Behalf of | Jan 22, 2013 | White Collar Crimes |

The pressure to crack down on white-collar crimes seems to be increasing every week. From Ponzi schemes to tax fraud, there is simply no end to the arrests that are coming from the Department of Justice against California residents for alleged involvement in white-collar crimes. The following is a story about a Sacramento area accountant who was recently accused of committing fraud in an elaborate tax scheme worth $4 million.

According to news reports, the president of a Sacramento area accounting firm has been arrested by the California Department of Justice (DOJ) for allegedly forging signatures of bank officers on defaulted vehicle loan documents. The purpose for the alleged forgeries was to obtain tax refunds for the vehicles from the California Board of Equalization. According to the DOJ, thousands of tax refunds totaling $4 million were filed on behalf of the accounting firm.

The president of the accounting firm was arrested at his Granite Bay Home while law enforcement officers were serving search warrants. He has since been charged with defrauding the tax board and was booked in Sacramento County Jail. He was released on bail shortly thereafter. As time passes, more information regarding the alleged crime will likely come out. It will also be interesting to see what defense the man raises.

In any case involving tax evasion or fraud, the penalties can be incredibly stiff. Depending on the amount of money in question and the specific involvement of the individual, those convicted of tax fraud can face stiff fines and prison sentences. In many cases, questions of guilt rest on whether the acts were fraudulent or merely negligent. It might seem like a difficult argument to make in the present case, but there is still a lot unknown about what actually occurred in this case.

ABC, “DOJ: Roseville accountant arrested for tax fraud,” Maneeza Iqbal, January 9, 2013