Teresa Floyd, of Phenix City, Alabama, was indicted for her alleged involvement in a stolen identity refund fraud scheme, Deputy Assistant Attorney General Ronald A. Cimino of the Justice Department’s Tax Division and U.S. Attorney George L. Beck Jr. for the Middle District of Alabama announced today following the unsealing of the indictment.
Floyd has been charged with several counts of wire fraud and aggravated identity theft. According to the indictment, Floyd owned and operated a tax preparation business called T & L Tax Service that was located in Phenix City. Floyd obtained the means of identification of individuals and used those identities to file fraudulent income tax returns. In order to conceal her scheme, Floyd created fictitious identification documents and bills in the names of those individuals. The indictment also seeks to forfeit $320,397 from Floyd .
An indictment merely alleges that crimes have been committed and the defendant is presumed innocent until proven guilty beyond a reasonable doubt. If convicted, Floyd faces a statutory maximum sentence of 20 years in prison for each wire fraud count and a mandatory two year sentence for the aggravated identity theft counts. Floyd is also subject to fines, forfeiture and restitution if convicted.
The case was investigated by special agents of the Internal Revenue Service - Criminal Investigation. Trial Attorney Michael Boteler of the Tax Division and Assistant U.S. Attorney Todd Brown for the Middle District of Alabama are prosecuting the case.