Quin Ngoc Rudin, a 55-year-old convicted felon, was sentenced to 10 years in prison after pleading guilty to conspiracy with the intent to defraud the IRS and Paycheck Protection Program (PPP) of over $60 million. Both fraud schemes were committed while Rudin was on supervised release for another fraud scheme.
In conjunction with his co-conspirators, Rudin prepared and filed false income tax returns with the IRS on behalf of at least nine professional athletes. Additionally, in years prior, Rudin filed amended tax returns for most of these athletes, charging them 30% of their tax refund to correct errors the athletes' previous accountants supposedly made.
In addition to the false income taxes, Rudin and his co-conspirators prepared and submitted false PPP loan applications, a federal loans initiative the government designed to help businesses meet payroll and pay for other expenses during the pandemic in exchange for 30% of the resulting loan amount. The PPP loans were submitted for companies and businesses the co-conspirators controlled, some of which were not even eligible for PPP loans.
Innocent Until Proven Guilty
In the United States, it is a federal crime to carry out or attempt to carry out a plan to get money or property owned or controlled by a financial institution by using false pretenses, representations, or promises. Rudin and his co-conspirators did all the above to achieve their fraudulent schemes.
The fact that Rudin committed these crimes while on supervised release for another fraud scheme did not help his cause and probably prompted his attorney to suggest pleading guilty to avoid a lengthy prison sentence.
No matter the prosecutor's evidence, working with a skilled criminal defense attorney is the only way to mitigate unnecessarily harsh punishments. Attorney Vitaly Sigal of Sigal Law Group is an extremely qualified and experienced criminal defense attorney. Call 818-325-0570 today for a free consultation. Sigal Law Group can help.