Milwaukee Man Sentenced to Prison For Filing False Federal Income Tax Returns
United States Attorney James L. Santelle announced that on July 2, 2014, Prince Rashada (45) of Milwaukee, WI, was sentenced to 24 months imprisonment for filing false federal tax returns based on an indictment issued in 2008.
Rashada fled the United States after the indictment was returned. In 2013, he was located by the United States Marshals Service. Rashada devised and executed a scheme to obtain payment of false claims for refunds from the Internal Revenue Service. The scheme encompassed the 2004, 2005 and 2006 tax years and involved Rashada electronically filing 72 fraudulent claims for federal refunds totaling approximately $277,000.
Rashada recruited unemployed individuals to file the returns. He portrayed himself as a legitimate tax preparer and told individuals who thought they could not file due to their unemployment that they could. Rashada then made up a wage amount and occupation to list on the tax returns. After receiving the refund, he paid the recruited individuals a portion of the funds and kept the remainder, typically a fee of $1,000, for himself. Rashada was also ordered to pay restitution to the IRS totaling approximately $160,000 for the losses incurred.
This case was investigated by the Internal Revenue Service Criminal Investigation and the United States Marshal’s Service. The case was prosecuted by Assistant United States Attorney Lisa A. Wesley.