Two Accountants Sentenced in Million-Dollar Deductions Scheme

Two accountants were each sentenced to 20 months in prison for their roles in the promotion and sale of abusive syndicated conservation easement tax shelters, the Justice Department announced Wednesday.

According to the DOJ, Victor Smith was a CPA and beginning in 2014, promoted and sold tax deductions to his wealthy clients in the form of units in illegal syndicated conservation easement tax shelters organized and created by co-defendants Jack Fisher, James Sinnott, and others. Smith, along with his firm, sold approximately $14 million in false tax deductions to their clients, causing a tax loss of about $4.8 million. ...