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Justice News

Department of Justice
U.S. Attorney’s Office
Eastern District of California

FOR IMMEDIATE RELEASE
Monday, February 5, 2018

Tulare County Resident Sentenced to 4 Years in Prison for Tax and Investment Fraud

FRESNO, Calif. — Marie E. Sherrill, 57, of Porterville, was sentenced today by U.S. District Judge Dale A. Drozd to four years in prison for wire fraud and tax fraud, U.S. Attorney McGregor W. Scott announced. She was also ordered to pay more than $1.3 million in restitution to the fraud victims and $255,900 to the IRS.

According to court documents, Sherrill was a registered tax return preparer operating a bookkeeping and tax preparation business in Porterville under the name Sherrill Financial Services. Between January 2011 and December 2014, Sherrill prepared false tax returns for her clients containing false deductions to maximize their tax refunds, which caused a loss to the IRS of approximately $255,900.

Sherrill also used the intimate financial knowledge she gained from the clients of her bookkeeping and tax preparation business to identify victims she could lure into an investment fraud scheme. She told victims of this scheme that their money would be put into “pooled investments” with the money of other investors to earn a high rate of return. The money was, in fact, never put into any investment, but was used instead to pay Sherrill’s personal expenses or to make lulling payments to earlier investors in order to make them believe their money was earning a profit. As a result of this scheme, the victims were defrauded of at least $1.3 million.

This case was the product of an investigation by the Federal Bureau of Investigation and Internal Revenue Service, Criminal Investigation. Assistant U.S. Attorney Mark J. McKeon is prosecuting the case.

Topic(s): 
Financial Fraud
Tax
Press Release Number: 
1:15-cr-130 DAD
Updated February 5, 2018