Mo. Mastermind of Tax Fraud Scheme Pleads Guilty

Posted: Nov 7, 2013 12:50 PM by The Associated Press

Rating: 0.0 (0 votes)

KANSAS CITY (AP) - A Kansas City man who was the mastermind of a nationwide tax fraud conspiracy that attempted to receive nearly $96 million in illegal refunds has pleaded guilty and will spend 13 years in federal prison under a deal with prosecutors.

Gerald Poynter, also known as Brother Jerry Love, was facing 66 charges in a 72-count indictment that also named 13 co-defendants. He pleaded guilty in U.S. District Court in Kansas City Thursday to one count of conspiracy to defraud the U.S. by filing false tax returns and one count of filing a fraudulent tax return.

Prosecutors say his scheme involved the fraudulent use of 1099-Original Issue Discount forms, typically used by tax filers who pay taxes on income from bond investments.

Ten others also have pleaded guilty in the scheme.

KOMU First Alert Weather

Most Popular