San Antonio Accountant Soto Jailed for Stealing $280K from IRS

San Antonio accountant Richard Molina Soto has been sentenced to 25 months in federal prison for stealing more than $280,000 from his clients and corruptly obstructing the Internal Revenue Service. Soto, owner of RMS & Associates, admitted to deceiving clients by posing as a Certified Public Accountant and pocketing tax payments meant for the federal government.

U.S. Attorney Richard L. Durbin, Jr., and IRS-Criminal Investigation Special Agent in Charge William Cotter announced the sentencing today. Soto appeared before U.S. District Judge David Alan Ezra, who handed down the 25-month prison term, ordered $229,963.14 in restitution, and mandated one year of supervised release upon completion of his sentence.

On April 11, 2016, Soto pleaded guilty before U.S. Magistrate Judge Pamela Mathy to one count of corruptly endeavoring to obstruct and impede the due administration of the internal revenue laws. The charge stems from a scheme that ran from November 2009 to November 2011, during which Soto falsely claimed CPA credentials and offered tax preparation services through his firm.

Court records show Soto told clients their tax liability and gave them the option to pay the IRS directly through RMS. Instead of forwarding the payments, Soto kept the money for himself. The total amount he failed to pay to the IRS on behalf of his clients: $282,107.01.

The betrayal left victims on the hook with the IRS, facing audits, penalties, and interest on unpaid taxes they believed had been settled. Soto’s actions not only violated federal law but also shattered the trust of small business owners and individuals who relied on his services to meet their tax obligations.

Soto remains on bond pending designation to a federal prison facility by the Bureau of Prisons. The case was investigated by IRS-Criminal Investigation, with Assistant U.S. Attorney William R. Harris prosecuting on behalf of the government.