9. What Happens in Vegas…
King Isaac Umoren was sentenced to 13 years and three months in prison for filing false tax returns, aggravated identity theft, wire fraud, money laundering and impersonating an FBI agent. Umoren owned and operated Universal Tax Services, a tax preparation business based in Las Vegas, which he used to engage in two separate fraud schemes.
First, Umoren prepared and filed with the IRS tax returns for clients that included false deductions and fictitious businesses to generate larger refunds than the clients were entitled to receive. In one instance, to collect a tax preparation fee, he drove to a client's house with police lights attached to his vehicle and posed as an FBI agent, wearing a fake badge and tactical gear, to demand payment of a tax preparation fee.
Second, Umoren fraudulently sold his company for approximately $3.8 million, significantly more than it was worth, by providing potential buyers fraudulent documents, including forged bank statements, fabricated return preparation fee reports, false personal tax returns and other tax forms that had never actually been filed with the IRS—as well as the stolen tax and personal identifying information of approximately 12,000 taxpayers who were not company clients.
He was ultimately ordered to pay nearly $9.7 million in restitution to the United States and the other victims of his fraud schemes.