Lottery Fraud News

crime2 years ago•2 min saved

Massachusetts Family's $20 Million Lottery Scam Exposed

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.

via Insider|

#crime #irs #lottery-fraud

crime2 years ago•2 min saved

Lottery-Winning US Family Evades $6M in Taxes with 14,000 Tickets

A father and son in Massachusetts have been sentenced in the state's largest lottery fraud scheme, involving more than 14,000 winning tickets. The scheme, known as "ten-percenting," involved buying winning tickets from individuals at a discounted price and then claiming the prizes as their own, while reporting the winnings on their tax filings and offsetting them with fabricated gambling losses. The family pocketed over $2 million this way, evading taxes and costing federal taxpayers over $6 million. The Massachusetts State Lottery Commission noticed their statistically improbable winning streak and the family was eventually caught. The father and son were sentenced to prison and ordered to pay back their ill-gotten gains and $6 million in restitution to the IRS.

via Yahoo! Voices|

#crime #irs #lottery-fraud

crime3 years ago•1 min saved

Father and son sentenced to prison for $20M lottery fraud scheme.

Father and son duo, Ali Jaafar and Yousef Jaafar, have been sentenced to prison for running a lottery fraud scheme that involved cashing in 14,000 winning lottery tickets over a 10-year period, laundering over $20 million in proceeds, and cheating the IRS out of about $6 million. They purchased winning lottery tickets at a discount from people who wanted to avoid identification by the state lottery commission, claimed the full prize amount, and then claimed equivalent fake gambling losses as an offset to avoid federal income taxes. They were convicted of conspiracy to defraud the IRS, conspiracy to commit money laundering, and filing a false tax return.

via NBC News|

#crime #irs #lottery-fraud

crime3 years ago•1 min saved

Father and son sentenced to prison for $20M lottery fraud scheme.

A father and son from Massachusetts have been sentenced to prison for running a lottery fraud scheme that involved cashing in 14,000 winning lottery tickets over a decade, laundering more than $20 million in proceeds, and cheating the IRS out of about $6 million. They purchased winning lottery tickets at a discount from people who wanted to avoid identification by the state lottery commission, claimed the full prize amount, and then claimed equivalent fake gambling losses as an offset to avoid federal income taxes. They were convicted of conspiracy to defraud the IRS, conspiracy to commit money laundering, and filing a false tax return.

via ABC News|

#crime #irs #lottery-fraud

crime3 years ago•1 min saved

Father and son sentenced for $20M lottery fraud scheme.

A father and son from Massachusetts have been sentenced to prison for running a lottery fraud scheme that involved cashing in 14,000 winning lottery tickets over a decade, laundering more than $20 million in proceeds, and cheating the IRS out of about $6 million. They purchased winning lottery tickets at a discount from people who wanted to avoid identification by the state lottery commission, claimed the full prize amount, and then claimed equivalent fake gambling losses as an offset to avoid federal income taxes. They were convicted of conspiracy to defraud the IRS, conspiracy to commit money laundering, and filing a false tax return.

via The Associated Press|

#crime #irs #lottery-fraud