PAYDAY LOAN FRAUD TAX EVASION
Payday loan fraud tax evasion. A Prairie Village, Kansas, man was sentenced in federal court for engaging in two separate fraud schemes, related to millions of dollars in false payday loan debt and for tax evasion totaling more than $8 million. “After raking in millions of dollars from the victims of his fraud scheme, the defendant lied repeatedly and used every trick in the book to hide his ill gotten gains from the IRS”, said acting U.S. Attorney Teresa A. Moore. “He spent lavishly on jet travel and luxury cars, but hasn’t voluntary paid a dime in taxes owed for more than a decade. Adding insult to injury, he even fraudulently obtained a Paycheck Protection Program loan from the government after working for so many years to cheat the U.S. taxpayers.” Payday loan fraud tax evasion.
Joel Tucker was sentenced by U.S. District Judge Roseann Ketchmark to 12 years and six months in federal prison without the possibility of parole. The court also ordered Tucker to pay $8,057,079 in restitution to the Internal Revenue Service, and to forfeit to the government $5000, which is the amount of stolen proceeds transferred across state lines as referenced in the specific count to which he plead. “Tucker used the proceeds of his criminal activity to live a lavish lifestyle and defraud the American people. His sentencing shows the courts take tax and related fraud schemes seriously,” said Amanda Prestegard, Acting Special Agent in Charge of the IRS-Criminal Investigation’s St. Louis Field Office. “IRS-CI aggressively investigates and uncovers complex financial crimes to disrupt criminal activity impacting the U.S> tax system.” Looks like Tucker will be in need of Tax Resolution.
Tucker, working through various companies, serviced payday loan businesses. Tucker’s company names changed over the years, the primary company was eData Solutions, LLC. eData, formally registered on July 29, 2009, did not make loans directly to borrowers: it collected loan application information, referred to as leads, and sold those leads to its approximately 70 payday lender clients. As a loan servicer, eData also provided software for payday lenders.