Former Metro Employee of Trust Bank Sentenced to Serve 30 Months in Federal Prison for $2.3 Million Embezzlement and False Federal Income Tax Return
Oklahoma City, Oklahoma – JIMMY BOSTIC, of Oklahoma City, Oklahoma, has been sentenced for stealing identities to file false tax returns and deposit the tax refunds into his bank account, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma.
United States District Judge David L. Russell sentenced Bostic to serve 21 months in federal prison, followed by three years of supervised release. In addition, Judge Russell ordered Bostic to pay $58,021.55 in restitution to the IRS for tax refunds Bostic received as part of his scheme.
Bostic was charged on May 19, 2015, with filing false federal tax returns between February 2012 and March 2013 in the names of individuals, without their knowledge or permission, attaching false W-2s for employers that did not employ those individuals. Those false returns directed the Internal Revenue Service to deposit the claimed tax refunds into Bostic’s bank account. In total, the IRS deposited $58,021.55 into Bostic’s account as purported tax refunds for those individuals. Bostic pleaded guilty on October 1, 2015, to five counts of theft of public money, in violation of 18 U.S.C. § 641. In his plea, Bostic agreed that the intended loss amount was $145,736.00, which includes additional refunds that Bostic claimed, but the IRS did not pay.
This case is the result of an investigation by the IRS-Criminal Investigation and was prosecuted by Assistant U.S. Attorney K. McKenzie Anderson.