Two Former Certified Public Accountants Sentenced
For Conspiracy to Defraud IRS and to Commit Wire Fraud,
And Money Laundering
Tampa, Florida - U.S. Attorney Robert E. O'Neill announces that U.S. District Judge Steven D. Merryday today sentenced Gregory F. Guido (54, Litha) to nine years in federal prison for conspiracy to defraud, conspiracy to commit wire fraud, and illegal monetary transactions. As part of Guido's sentence, the court also entered a money judgment in the amount of $5,934,646.88, the proceeds of his charged criminal conduct.
Yesterday, Judge Merryday sentenced George B. Calvert (78, Hernando Beach) to seven years in federal prison for the same conduct. As part of Calvert's sentence, the court also entered a money judgment in the amount of $10,071,113.80, the proceeds of his charged criminal conduct.
A federal jury found both Calvert and Guido guilty on June 21, 2011.
According to testimony and other evidence presented at trial, Calvert and Guido conspired with others to defraud the IRS via a fraudulent tax credit scheme. During the relevant time frame, the Internal Revenue Code permitted producers of certain fuels from non-conventional sources (FNS) to claim a tax credit if the fuels were sold to unrelated third parties. From 2003 through 2006, Calvert and Guido and their co-conspirators promoted a tax credit scheme involving the sale to individual taxpayers of fraudulent FNS tax credits.
Calvert and a co-conspirator identified landfills in various locations throughout the United States and Puerto Rico from which they purported to secure rights to the methane gas, if any, generated by such landfills. They created fraudulent assignments which purported to assign the rights to claim FNS tax credits from the owners or developers of these landfills to the conspirators’ companies, including Gas Recovery Partners-2GP (GRP). Calvert, Guido and a co-conspirator also generated bogus engineering reports containing baseless findings that the landfills qualified for FNS tax credits. Guido also created fraudulent and back-dated landfill gas purchase agreements to create the illusion that GRP had sold methane gas generated by the landfills to unrelated third parties.
Calvert and Guido promoted their tax credit scheme to a network of tax return preparers, and referenced their purported rights in landfills as well as the bogus engineering reports and landfill gas purchase agreements. They used the balance of the proceeds to pay other expenses and for their own personal enrichment.
On June 15, 2009, in a related case, Calvert and Guido's co-coconspirator, Robert Henry Anderson, pleaded guilty to conspiracy to defraud and conspiracy to commit mail fraud. On June 12, 2010, Anderson was sentenced to 37 months in federal prison and other penalties. On September 13, 2011, the Court reduced Anderson's sentence to 21 months in recognition of the substantial assistance he provided to the government.
This case was investigated by the Internal Revenue Service, Criminal Investigation. It was prosecuted by Assistant United States Attorneys Rachelle DesVaux Bedke and Simon Gaugush.