A Colorado man pleaded guilty Friday in federal court in Denver to conspiracy to defraud the United States, conspiracy to commit money laundering and money laundering, according to prosecutors.

Matthew Taylor and co-conspirators defrauded the government by filing false claims for tax credits under a federal program that encourages production and use of renewable energy, according to a U.S. Justice Department news release.

In 2009, Taylor and others created a fake company, Shintan Inc., purported to be in the renewable fuels business, the release stated. From 2010 to 2013, Taylor and co-conspirators filed claims with the IRS for over $7.2 million in tax credits for renewable fuel produced.

“In fact, Shintan produced no qualifying renewable fuel, and the documents filed with the IRS were fraudulent,” according to the justice department.

Taylor personally netted at least $4.5 million from the scheme, with the additional $2.7 million going to co-conspirators, authorities said.


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