Myrtle Beach Family Members Sentenced to Federal Prison for Tax-Related Coronavirus Fraud Scheme
FLORENCE, SOUTH CAROLINA – March 2024
Two members of a Myrtle Beach family were sentenced to federal prison, and a third to probation, for their roles in a scheme to defraud the government out of more than $500,000 by submitting false tax returns, and by stealing economic impact payments sent to others as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Donna Karakatsani, 48, was sentenced to two years in prison while her son, Ivo Krasimirov Ivanov, 29, was sentenced to a year and a half in prison. Todor Milkov Stoenchev, 54, Karakatsani’s husband and Ivanov’s stepfather, was sentenced to five years of probation given his more limited role in the scheme.
“During a time when many families were struggling to make mortgage payments, this family was buying houses with money they stole from the American people,” said U.S. Attorney Adair F. Boroughs. “This fraud scheme was complex, lasted over several years, and took place primarily during a pandemic when these funds were sorely needed.
The evidence presented to the court showed that beginning sometime in 2020, the IRS, along with the Department of State OIG, began an investigation into the family regarding false claims for tax refunds and stolen refunds. Specifically, Karakatsani and Ivanov held themselves out as tax preparers and targeted foreign individuals, usually Bulgarians, who had spent time in the United States.
Defendant: Donna Karakatsani, Ivo Krasimirov Ivanov, Todor Milkov Stoenchev (Karakatsani family members)
Criminal Charges: Tax-related coronavirus fraud, submitting false tax returns, stealing economic impact payments
City and State: Myrtle Beach, South Carolina
Exact Date: The investigation began sometime in 2020, sentencing was in March 2024
Sentence: Donna Karakatsani – 2 years in prison, Ivo Krasimirov Ivanov – 1.5 years in prison, Todor Milkov Stoenchev – 5 years of probation
Amount: More than $500,000
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Key Facts
- State: South Carolina
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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