#IRSCI is THE expert at investigating financial crimes as evidenced by this @IRSCI_NY case featuring the alleged largest ever U.S. Employee Retention Credit (ERC) fraud including 8,000 false returns claiming more than $600 million in tax credits. #COVIDFraud https://t.co/2RDhChdKCP
Seven Individuals Charged in Largest Employee Retention Credit Scheme Case in the United States https://t.co/wUn70bJOlv (Announced with @DOJTaxDiv @IRSCI_NY @USPIS_HQ and @HSINewYork )
*DOJ CHARGES 7 DEFENDANTS FOR ALLEGED COVID TAX SCHEME OF ~$600M
A Utah County man has been accused of defrauding numerous victims across Utah, resulting in losses exceeding hundreds of thousands of dollars. This case is part of a broader trend of fraudulent activities related to COVID-19 relief funds. The FBI reported that a prolific fraudster pleaded guilty to multiple scams, leading to over $600,000 in losses. Additionally, the IRS announced a guilty plea from a Los Angeles man who attempted to claim more than $65 million from the IRS by filing false COVID-19 claims for a nonexistent business. The Department of Justice has charged seven individuals in what is described as the largest Employee Retention Credit scheme in the United States, involving approximately $600 million in fraudulent claims and 8,000 false returns. These cases highlight the ongoing efforts by federal agencies to combat COVID-19-related fraud.