Massachusetts Family's $20 Million Lottery Scam Exposed

1 min read
Source: Insider
Massachusetts Family's $20 Million Lottery Scam Exposed
Photo: Insider
TL;DR Summary

A father and son in Massachusetts have been sentenced for orchestrating the state's largest lottery fraud scheme. Over a nine-year period, they used a scheme called "ten-percenting" to cash in more than 14,000 winning lottery tickets. The scheme involved buying winning tickets from individuals at a discounted price, claiming the prizes as their own, and reporting the winnings on their tax filings while offsetting them with fabricated gambling losses. The fraud cost federal taxpayers over $6 million. The family was caught when lottery officials noticed their statistically improbable winning streak. The father and son were sentenced to prison and ordered to pay back their ill-gotten gains, as well as $6 million in restitution to the IRS.

Share this article

Reading Insights

Total Reads

0

Unique Readers

15

Time Saved

2 min

vs 3 min read

Condensed

80%

573116 words

Want the full story? Read the original article

Read on Insider