Recently, a Pennsylvania man was sentenced to more than 15 years in prison for perpetrating an elaborate investment fraud scheme. He committed multiple tax crimes as part of the scheme, including diverting close to $20 million in taxable income to a company he falsely claimed he didn’t own and failing to report to the IRS $9 million in cash kickbacks. In addition, the man paid workers’ wages off the books and failed to pay his company’s share of employment tax. He also cheated his state revenue department by claiming he was a Florida resident (Florida has no state income tax for individuals). The man was brought to justice thanks to investigative work by the IRS, FBI and FDIC.
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