Fraud Conviction

[Lee B]

"Jack Fisher & James Sinnott were convicted of conspiracy to defraud the United States, conspiracy to commit wire fraud, aiding and assisting the filing of false tax returns and subscribing to false tax returns. The convictions stem from Fisher and Sinnott’s fraudulent tax shelter scheme involving syndicated conservation easements dating back nearly two decades. In total, the defendants sold more than $1.3 billion in fraudulent tax deductions through this scheme. Fisher and Sinnott face a maximum penalty ranging between three and 20 years in prison for each count of conviction. The government is also seeking the forfeiture of monetary proceeds and real properties purchased by Fisher and Sinnott in connection with their fraud scheme."

They got away with this scam for almost 20 years 

[Sara EA]

There was a case presented in my Ethics course this week that I'm still laughing about.  A CPA paid an IRS agent $1,250 in a bribe.  Not bad enough?  He told the clients he was representing that the IRS agent wanted $2k, which the clients paid him and he pocketed the difference (and needless to say didn't report on his own tax return).  I didn't really need an ethics course to instruct me not to try either maneuver.