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$7.2M Biodiesel Tax Credit Scam Exposed
A Colorado business owner has admitted to orchestrating a massive $7.2 million biodiesel tax credit scam, netting him millions in fake refunds from the IRS.
Calvin Glover, the owner of Parker-based Shintan Inc., pleaded guilty to conspiracy to impair and impede the Internal Revenue Service (IRS) in a scheme that spanned several years.
According to court documents, Glover conspired with others to file false claims for refundable fuel tax credits, resulting in the IRS issuing over $7 million in refunds to Shintan Inc. Glover then deposited the checks into a bank account he controlled and transferred the proceeds to his co-conspirators.
When faced with a grand jury subpoena, Glover attempted to obstruct the investigation by providing false documents and information to investigators. He even met with co-conspirators to concoct a false story, further hindering the IRS’ efforts to bring him to justice.
Glover’s scheme was finally exposed, and he now faces a maximum sentence of 5 years in prison, as well as a period of supervised release, restitution, and monetary penalties.
Principal Deputy Assistant Attorney General Richard E. Zuckerman commended the special agents of IRS Criminal Investigation and Environmental Protection Agency Criminal Investigation Division, who investigated the case, and Tax Division Trial Attorneys Leslie A. Goemaat and Arthur J. Ewenczyk, who are prosecuting the case.
The case serves as a stark reminder of the importance of tax honesty and the consequences of attempting to deceive the system. The Tax Division will continue to vigorously pursue those who perpetuate such schemes, ensuring that they are held accountable for their actions.
Key Facts
- State: Colorado
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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