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Most of us have little desire to mess around with the IRS. Filling out your annual tax return honestly and completely is the best way to keep agents from messing with your business.
But some people can’t help but try to cover Uncle Sam’s eyes. And when they are caught, they often pay a heavy price.
recently, Released by the IRS A list of the agency’s “most prominent and high-profile investigations,” ending with federal prison sentences in 2022.
Here are some examples of people who have tried to cut their taxes or committed similar scams and ended up paying a high price.
1. Lawyers who stole from their own clients
name: Michael Avenatti of Newport Beach, California
sentenced: December 5, 2022
sentenced: 168 months (14 years) in federal prison. The court also ordered Avenatti to pay his $10,810,709 damages to four clients and his IRS.
pleaded guilty:
- 4 cases of wire fraud (related to stealing millions of dollars from clients, including a paraplegic)
- IRS obstruction (seeking to collect more than $3 million in unpaid payroll taxes from a coffee business owned by Avenatti)
2. The Florida man who ran an $80 million Ponzi scheme
name: Michael J. Dakota of Sarasota, Florida
sentenced: October 21, 2022
sentenced: 23 years in federal prison. The court also ordered DaCorta to forfeit his $2,817,876.16 of his criminal proceeds.
convicted:
- Conspiracy to commit wire fraud or mail fraud
- money laundering
- File a false income tax return
The government says DaCorta and co-conspirators tricked at least 700 people into investing in an investment firm named Oasis International Group Ltd. ponzi scheme — A type of fraud that pays existing investors with money collected from new investors. As a result, the victim lost more than her $80 million.
3. The solar company executive who ran the billion dollar Ponzi scheme
name: Paulet Karpoff of Martinez, California
sentenced: June 28, 2022
sentenced: 11 years and 3 months in federal prison
pleaded guilty:
- Conspiracy to commit crimes against the United States
- money laundering
The government says Karpoff, who was the chief operating officer of a company called DC Solar, played a key role in “the largest criminal fraud scheme in the history of the Eastern District of California.” this is One of the largest court districts in the country. The scam is estimated to have robbed investors of around $1 billion.
rest of the top 10
The remaining top 10 on the IRS’ 2022 list are: