Clearwater Man Sentenced In Stolen Identity Refund Fraud Scheme

Tampa, Florida – U.S. District Judge Elizabeth A. Kovachevich today sentenced Sylvester Banks (56, Clearwater) to two years and three months in federal prison for his role in a conspiracy to commit stolen identity refund fraud. He was ordered to pay restitution to the Internal Revenue Service in the amount of $755,900.00.  The Court also entered a money judgment in the same amount.

Banks pleaded guilty on June 18, 2015.

According to court documents, between April 2011 and March 2013, Banks received and deposited into his bank account approximately $755,900 in U.S. Treasury and other checks, which were all made payable to persons other than himself. Those checks were income tax refund checks that were the result of numerous false and fraudulently filed income tax returns. During an interview with federal agents in February 2015, Banks acknowledged that he had realized that the checks were fraudulent income tax refund proceeds, and that it was unlawful for him to have received and deposited them into his own account.      

This case was investigated by the Internal Revenue Service-Criminal Investigation Division. It is being prosecuted by Assistant United States Attorney Jay L. Hoffer.