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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
FinanceScams

Fake IRS Employees Scammed Victims Out of Nearly $9 Million, Officials Say

By
Julia Zorthian
Julia Zorthian
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By
Julia Zorthian
Julia Zorthian
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April 27, 2017, 2:44 PM ET
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Authorities arrested eight people for impersonating IRS employees over the phone and telling victims wire them money for “back taxes.”

The people involved defrauded over 7,000 people of nearly $8.8 million, according to a statement from the Department of the Treasury, by convincing victims to wire them money using services like MoneyGram. The IRS impersonators would allegedly threaten arrest or use other forms of intimidation to get people to send the money, court documents said.

“Over the past three years, this scam has resulted in reported taxpayer losses of more than $55 million,” said J. Russell George, Treasury Inspector General for Tax Administration (TIGTA), in the statement. “The scammers are relentless and so are we…Our investigators will not rest until we have brought those responsible for this scheme to justice.”

Read More: This Is What an IRS Scam Phone Call Sounds Like

The arrests took place in Miami, Fl. on April 25, and the indictments took place in Arkansas and Mississippi courts. Two other people involved in the fraud were arrested last year.

 

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