Accountant Gets 15 Months In Prison In $5.4M Tax Fraud Case

Law360 (February 13, 2020, 7:48 PM EST) -- An accountant has been sentenced to more than a year in prison after pleading guilty to participating in a luxury automotive import scheme that underreported income by $12 million and defrauded the IRS of $5.4 million in tax revenue.

Tedmund Blankschein was sentenced Monday to 15 months in prison by the U.S. District Court for the Eastern District of Wisconsin, followed by three years of supervised release, for his part in the scheme. Blankschein's business took orders for expensive automobiles such as Maseratis from foreign buyers who paid for the cars but never received them. The court also required Blankschein to repay the lost tax...

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