Jail awaits
A Lakeland, Florida tax preparer has been sentenced to seven years in prison for a $60m fraud scheme.
According to a US Attorney’s Office for the Middle District of Florida (USAO-MDF) press release on Friday, US District Judge Virginia Covington sentenced George Tucker, Jr. to seven years and six months in prison for masterminding a major conspiracy to commit wire fraud and file fictitious tax returns.
tried “to game the IRS”
Tucker allegedly tried “to game the IRS” using false gambling winnings.
Tucker pleaded guilty in December, and his Friday sentencing comes with a court order to pay over $15m in restitution to the Internal Revenue Service.
The DOJ also stated that the tax preparer must forfeit around an additional $1.35m, a sum representing the personal profit he skimmed from the criminal scam.
Faked it
According to the USAO-MDF, Tucker faked multiple tax schedules and generated fraudulent documents “typically used to report gambling winnings.”
Using his scheme to fabricate figures for betting wins, losses, and federal tax withholdings, Tucker was able to claim substantial refunds that neither “he nor his clients were entitled to receive.”
Tucker reportedly pocketed over $1.3m from clients and via direct refunds from the IRS. Federal investigators said Tucker used the illegal proceeds to fund a lavish lifestyle, including buying costly jewelry.
spent their days looking for ways to cheat”
IRS Criminal Investigation Florida Field Office Special Agent in Charge Ron Loecker stated the likes of Tucker “spent their days looking for ways to cheat.”
Agent Loecker added that “those who deliberately exploit our tax system for personal gain will face serious consequences.”
Staggering scale
According to reports the “scale of the attempted theft was staggering.” The USAO-MDF said the “intended tax loss” was just under $60m.
Tucker’s scheme ultimately didn’t ring the $60m bell, with the IRS paying out “$15,028,309.89 in actual funds, distributed as refunds or credits against prior debts.”
