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Press Release

Tampa Man Sentenced In Wire Fraud Scheme Involving Fraudulent Refunds

For Immediate Release
U.S. Attorney's Office, Middle District of Florida

Tampa, Florida – U.S. District Judge Elizabeth A. Kovachevich has sentenced Rida Saed (58, Tampa) to 12 months and 1 day in federal prison for his role in a scheme involving the filing of fraudulent income tax returns. As part of his sentence, the Court also ordered Saed to pay $51,838.91 in restitution to the Internal Revenue Service. He pleaded guilty on January 19, 2017.

 

According to court documents, Saed and others processed debit cards at their store, Three Brothers Market in St. Petersburg, knowing that they contained proceeds from the filing of fraudulent income tax returns. Saed and others processed those cards through the third-party credit processor that handled credit transactions for the market. They kept a portion of the proceeds for their services and returned the majority of the funds to the undercover agents who had presented them for cashing. The total amount of fees that Saed and the others kept from these transactions was $51,838.91.

 

This case was investigated by the Internal Revenue Service - Criminal Investigation and the Federal Bureau of Investigation. It was prosecuted by Assistant United States Attorney Jay L. Hoffer.

Updated May 15, 2017

Topics
Financial Fraud
StopFraud
Tax