Rafael Alvarez, a Bronx tax preparer known as 'the magician', was revealed to have run one of the largest fraud schemes in history, stealing $145 million from the IRS.
Prosecutors described Alvarez's operation as a sweeping fraudulent scheme, where thousands of false tax returns were filed to secure substantial refunds for clients, impacting the government significantly.
Admitting to the scheme, Alvarez pleaded guilty to conspiracy and assisting in preparing false tax returns, agreeing to pay $145 million in restitution.
Facing a maximum of eight years in prison, Alvarez's case underscores the severe repercussions of tax fraud and the government's commitment to prosecute such offenses.
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