Investment Fraud Scheme and Tax Evasion Gets Florida Man 30 Months in Prison and Large Fine
If you’re a victim of a “Ponzi”-type investment scam then you know that dealing with investment fraud is no fun. Did you know that you may be able to recoup 30% to 40% of your losses under Internal Revenue Code Section 165? We call it “Section 165 Representation” or Investment Fraud Representation. Our professional tax team can help you amend prior years tax returns sometimes resulting in a reduction of taxes paid in those years and subsequently receiving a refund with interest. If you have been a victim of investment fraud, our tax attorneys want to help you! Don’t worry about the person who scammed you - the IRS will get them and they will pay the price, as this Florida scammer found out.
After pleading guilty to charges of federal income tax evasion, Carl Libertino, 42, of Sebastian, Fla., was sentenced 30 months in prison, to be followed by three years of supervised release. In addition, Libertino was ordered to pay the government $202,160 in restitution.
According to court records, Libertino did not file personal income tax returns for 2004, 2005, 2006 and 2007. During these years, Libertino received substantial income, which he had not declared, including $443,160 in 2006. His income came, in large part, from people who believed they were investing their money through Libertino. In addition, to conceal his income and evade taxes, Libertino operated mostly in cash, withdrawing amounts small enough to evade federal currency transaction reporting requirements. Libertino also purchased large ticket items in cash, including, for example, purchasing a new car using a $20,000 cashier’s check and $7,620 in cash.
Contact Tax Resolution Services to find out more about Investment Fraud Representation. Call toll-free and speak with one of our tax consultants at 1-866-IRS-PROBLEMS (1-866-477-7762) to get help with recovering your investment fraud losses today!
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Tags: evading taxes, federal income tax evasion, investment fraud representation, ponzi scheme, professional tax team, section 165 representation, tax cheat, tax evasion, tax resolution services, tax scam
