Marie E. Sherrill, Tax and Investment Fraud, California 2023

FRESNO, Calif. — Marie E. Sherrill, 54, of Porterville, was arrested today on a 34-count indictment charging her with wire fraud, money laundering, aiding the preparation of false tax returns, and corruptly interfering with the administration of the internal revenue laws, United States Attorney Benjamin B. Wagner announced.

Sherrill was a registered tax return preparer operating a bookkeeping and tax preparation business in Porterville under the name Sherrill Financial Services. Between January 2011 and December 2014, Sherrill allegedly prepared false tax returns for her clients containing false deductions to maximize their tax refunds, causing an alleged loss to the IRS of $255,901.

The indictment also alleges that Sherrill used the intimate financial knowledge she gained about her various clients to identify potential victims she could lure into an investment fraud scheme. She allegedly told victims of this scheme that their money would be put into “pooled investments” with the money of other investors, to earn a high rate of return. The money was, in fact, never put into any investment, but was used instead to pay Sherrill’s personal expenses or to make lulling payments to earlier investors, to make them believe their money was earning a profit.

As a result of this scheme, at least 17 investment victims were defrauded of at least $1.3 million. This case is the product of an investigation by the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation. Assistant United States Attorney Mark J. McKeon is prosecuting the case.

If convicted, Sherrill faces a maximum statutory penalty of 20 years in prison on each count of wire fraud; 10 years in prison on each count of money laundering; and three years in prison on each tax charge. She also faces a $250,000 fine on each count.

Sherrill’s arrest is a result of a lengthy investigation that aimed to bring her to justice for her alleged crimes. The Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation, worked tirelessly to gather evidence and build a strong case against Sherrill.

The charges against Sherrill are only allegations, and she is presumed innocent until and unless proven guilty beyond a reasonable doubt. The outcome of her case will depend on the evidence presented in court and the discretion of the judge.

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