A Florida-based attorney and certified public accountant has been sentenced to eight years in prison following his conviction for conspiracy to defraud the United States and tax evasion. According to the DOJ, from 2013 to 2021, the defendant orchestrated a fraudulent tax shelter operation known as “The Ultimate Tax Plan,” illegally assisting high-income clients in reducing tax liabilities through fake charitable deductions.
Utilizing his professional expertise, the defendant, alongside co-conspirators Rao Garuda and Cullen Fischel, duped clients into believing they were making legitimate charitable donations, thereby qualifying for deductions. These transactions were fictitious; clients maintained control over the assets, contrary to their purported donations. The defendant further misled clients with the promise of tax-free loans against these assets and a low-cost buyback option.
Despite multiple warnings and IRS audits that declared his scheme a sham, the defendant persisted, even forming new “charities” after being ordered to cease operations. His defiance extended to producing false documentation to obstruct a Justice Department investigation.
The defendant’s illegal activities netted over $10 million, funding an extravagant lifestyle, including a multi-million-dollar estate and a luxury car collection. Following his prison term, the defendant is to serve three years of supervised release, with restitution to be determined.
