⏱ 3 min read
Three scammers who bilked the IRS out of $1.8 million in COVID-19 tax credits have been sentenced to prison in Eastern Tennessee. Edward Zanes, 51, was the last of the trio to be sentenced, getting 65 months behind bars. His co-defendants, Ryan Glidewell and Alyssa Glidewell, got 84 months and 50 months respectively.
The scheme involved creating 11 fake businesses, none of which had employees or operations, to claim the Employee Retention Credit and paid Sick and Family Leave Credit. The IRS paid out $1.8 million in refunds, but the Glidewells and Zanes only got away with about half that amount.
U.S. Attorney Francis M. Hamilton III said the defendants ‘exploited governmental efforts to assist businesses during a time of unprecedented uncertainty.’ The trio will also have to pay $1.8 million in restitution.
The scheme unraveled when investigators discovered the fake businesses and the fake tax returns. Ryan Glidewell was the mastermind behind the operation, creating the fake companies and directing the refunds to himself and his co-conspirator.
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📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Tennessee
- Location: TN
- Source: DOJ Press Release
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