Jesus Calvo, 30, of Cutler Bay, Fla., was recently sentenced to 58 months in prison followed by three years of supervised release for his role in an identity theft tax refund fraud scheme. Calvo has also been ordered to pay $9.2 million in restitution to the IRS.
Calvo, who operated a checking cashing store called J&S Taxes in Perrine, Fla., apparently cashed thousands of fraudulently-obtained federal income tax refund checks with a total value of approximately $12 million between February 2012 and June 2012.
The checks were brought to Calvo by co-conspirators, who paid Calvo more than the standard check-cashing fee because he was aware that the checks had been obtained through fraud.
Using his income from the scheme, Calvo purchased two houses and an investment property, funded his retirement account, invested in a startup company, and bought cars and other items. As part of the plea agreement, he agreed to forfeit two houses, five cars, three bank accounts, and watch, jewelry and cash, with a total value of approximately $2 million.