Roselle, new jersey man sentenced to more than three years in prison for fraud conspiracy generating over $3 million in unearned tax refunds
FOR IMMEDIATE RELEASE
July 11, 2011
TRENTON, N.J. – A Roselle, N.J., man was sentenced today to 37 months in prison for his role in a conspiracy to file thousands of false and fraudulent federal income tax returns that caused the IRS to issue over $3 million in refund checks, U.S. Attorney Paul J. Fishman announced.
Taiwo Daisi, 40, previously pleaded guilty before U.S. District Judge Freda L. Wolfson to an Information charging him with conspiracy to defraud the IRS. Judge Wolfson also imposed the sentence today in Trenton federal court.
According to documents filed in this case and statements made in court:
Beginning in January 2005, Daisi, along with several co-conspirators, purchased the personal identifying information of hundreds of identity theft victims – including their names, dates of birth, and Social Security numbers. Daisi and his co-conspirators then used the personal information of the victims to create and file materially false and fraudulent individual income tax returns with the IRS in the victims’ names. The conspirators’ objective was to cause false and fraudulent income tax refund checks to be issued by the United States Department of the Treasury.
Daisi and his co-conspirators used their home addresses or addresses they controlled on the tax returns so they could receive the checks. In total, they used approximately 41 separate addresses for this purpose.
Daisi and his co-conspirators would deposit the checks into approximately 24 separate bank accounts. They then made cash withdrawals from the accounts or directed monies from those accounts to others they controlled.
From approximately January 2005 through October 2009, Daisi and his co-conspirators filed thousands of returns that, combined, sought nearly $11.5 million in refund checks, approximately $3.2 million of which the IRS actually released.
In addition to the prison term, Judge Wolfson sentenced Daisi to three years of supervised release and ordered him to pay $690,532 in restitution.
Three of Daisi’s co-conspirators – Johnson Coker, Adebowale Sheba, and Adedemi Adenni – have pleaded guilty to the same charge and await sentencing.
U.S. Attorney Fishman credited inspectors of the United States Postal Inspection Service, under the direction of Postal Inspector in Charge Philip R. Bartlett; special agents of IRS - Criminal Investigation, under the direction of Special Agent in Charge Victor W. Lessoff; and special agents of the Social Security Administration Office of the Inspector General, under the direction of Special Agent in Charge, New York Field Division Edward J. Ryan, for the investigation leading to the sentence.
The government is represented by Assistant U.S. Attorney Christine Magdo of the U.S. Attorney’s Office Economic Crimes Unit in Newark.
Defense counsel: Ronald Hunt Esq., Union, N.J.