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Refund Fraud Scheme Unfolds in Pennsylvania
In a recent development in the world of finance, Nana Baffour, a 39-year-old resident of Bronx, New York, has pleaded guilty to a charge of conspiracy to commit wire fraud in federal court.
The case, which was investigated by the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation, reveals that Baffour used bank accounts in his name and under his control as repositories for fraudulently obtained federal tax refunds.
According to the court, Baffour would withdraw the fraudulently obtained refunds, keep a portion for himself, and give the remainder of the money to another co-defendant.
The law provides for a maximum total sentence of 20 years in prison, a maximum fine of $250,000 or twice the amount of loss to the victims, or both.
Assistant United States Attorney Christian A. Trabold is prosecuting this case on behalf of the government.
Sentencing for Baffour is scheduled for February 8, 2016.
Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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