Raymond P. Petrarca, Tax Return Fraud, Rhode Island 2010
A notorious tax return preparer in Rhode Island has been charged with 44 counts of filing fraudulent tax returns for clients, announced Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department's Tax Division and Acting U.S. Attorney for the District of Massachusetts William D. Weinreb.
According to the indictment, Raymond P. Petrarca owned and operated Stratus Financial Group, a tax preparation business located in Warwick. For at least 6 tax years from 2010 through 2015, Petrarca allegedly falsified his clients’ tax returns, seeking refunds from the Internal Revenue Service (IRS) to which his clients were not entitled.
Petrarca allegedly included false and inflated deductions for home mortgage interest and charitable donations, as well as false and inflated credits for purported home energy improvements.
If convicted, Petrarca faces a statutory maximum sentence of 3 years in prison for each count, as well as a period of supervised release, restitution, and monetary penalties.
The indictment states that the defendant allegedly committed these crimes in the District of Rhode Island. The indictment alleges that Petrarca caused a total tax loss of at least $1 million.
Acting Deputy Assistant Attorney General Goldberg and Acting U.S. Attorney Weinreb thanked special agents of the IRS Criminal Investigation, who conducted the investigation, and Assistant U.S. Attorney Victor A. Wild and Trial Attorney Kimberly G. Ang of the Tax Division, who are prosecuting the case.
The details contained in the indictment are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
Key Facts
- State: Rhode Island
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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