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A group of three Florida men from the rap label GroundUp111 have been convicted of operating a fraudulent $ 100 million tax refund operation.
Sources at the Houston Chronicle, say the Miramar, FL operation stands as one of the largest tax fraud schemes in the history of the United States.
During the seizure at the Miramar residence, police uncovered $ 174,000 in cash, 10 computers, Rolex and other expensive watches, dozens of gold and diamond necklaces and chains.
The three men were sent to prison yesterday (April 5) by a federal judge after authorities say as many as 10 laptop computers were manipulated to steal approximately $ 100 million dollars using identity theft.
The rap label was based in Miramar, FL and according to investigators did not produce any music while stealing the money from July 2011 to May 2013.
According to federal documents, the guy’s rap names live up to their aspirations for riches and living on the edge.
Reportedly the rappers went by the names of “Money King,” “Money Makin Kerb,” Chadillac 305,” and “Risktakers111.”
Its not the first time a rap label has been used as a front in the crime world and it goes both ways.
Back in 2011, Federal agents from the ATF and D.C. Police impersonated a rap label and used the imprint to infiltrate the streets.
Agents told the underground world and black market that they were seeking to purchase weapons and drugs.
Over the course of the year, agents confiscated firearms (including a rocket launcher), assault weapons, 80 pounds of methamphetamine, 21 pounds of cocaine, 1.25 gallons of PCP, 24 pounds of marijuana, heroin and Ecstasy.
This case couldn’t be anymore timely as the 2016 April tax deadline approaches.
“Every year, thousands of federal income tax returns are prepared by people who care much more about making a quick buck than about preparing accurate returns,” said Caroline Ciraolo, assistant attorney general for the Justice Department’s tax division
Each defendant is said to be responsible for over $ 28 million in restitution to the United States government.
The three men’s sentences range from 4-11 years, but two more culprits are yet to be sentenced by U.S. District Judge.
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