Related Federal Cases
- Georgia’s Crabtree & Donnan Hit with 85-Count Ponzi Scheme Indictment · Georgia
- Bay Village Man Faces Mail Fraud & Tax Evasion Charges · Ohio
- Cleveland Non-Profit Head Gets Prison, Fines for Tax Violations · Ohio
- Toledo Doc Gets 5 Years for Oxycodone Scheme · Ohio
- Mansfield Man Convicted in $1.3 Million Mortgage Fraud Scam · Ohio
$8.8 Million Tax Scheme Exposed
A 45-year-old Twinsburg man has been indicted on 31 counts of tax-related crimes, accused of filing false claims for income tax refunds totaling more than $8.8 million.
Brian D. Krantz, who resides in Twinsburg, Ohio, is charged with one count of conspiring to make false claims against the United States and 30 counts of making false claims for income tax refunds, according to the indictment. The U.S. Treasury issued 17 refund checks totaling approximately $3,615,586 payable to Krantz and various corporations controlled by him.
“This defendant is accused of violating tax laws to enrich himself,” said U.S. Attorney Steven M. Dettelbach. “Those individuals who engage in this type of financial fraud should know they will not go undetected and will be brought to justice.”
Krantz is accused of conspiring with Bryan D. McCallum, who pleaded guilty to the same charges earlier. McCallum was employed as an accountant/bookkeeper by Krantz’s corporations, which were engaged in financial services and real estate investment business activities.
The scheme involved the use of fake IRS Forms 2439, which claimed substantial amounts of withholding credits, when in fact none of the companies listed on the forms were actually RICs or REITs or had any undistributed capital gains or withheld taxes. Krantz allegedly used more than $1 million of the refund proceeds to finance a real estate venture known as Phoenix Ventures Partners LLC.
If convicted, Krantz’s sentence will be determined by the court after review of factors unique to the case, including his prior criminal record, role in the offense, and characteristics of the violation. The government’s case is being prosecuted by Assistant U.S. Attorneys John M. Siegel and Justin J. Roberts. The investigation was led by the IRS-Criminal Investigation and the U.S. Attorney’s Office for the Northern District of Ohio.
RELATED: Imadeldin Khair Gets 18 Years for Ambulance Fraud
RELATED: Twinsburg Man Sentenced for $8.8M Tax Fraud
Key Facts
- State: Ohio
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
