Legal News

No redemption for O.C. tax preparer

By Richard Binder

U.S. District Judge James V. Selna of the Central District of California has permanently barred Thanh Viet Jeremy Cao, a 28-year-old Orange County man, and his Lake Forest-based business Phoenix Financial Management Group from preparing federal tax returns.  The injunction stems from allegations that Cao had requested more then $200 million in fraudulent returns.

The indictment comes a year after Cao was charged with attempting to secure tax refunds by using a theory about a "secret treasury" created by the Treasury Department for each citizen. The suit against Cao is one of seven filed last year to stop so-called "redemption" scheme promoters.

In addition to the injunction, Cao is required to to provide the government with a list of everyone whose tax returns he has prepared since Jan. 1, 2005.

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Full post as published by Legal Pad | LA on August 09, 2010 (boomark / email).