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BRADENTON — Former tax preparer Guy R. Paul of Bradenton was sentenced to three years in federal prison for preparing more than $200,000 in false tax returns.
Paul was indicted Dec. 28, 2013 on charges he engaged in the preparation of false tax returns and failed to report income he earned from his tax preparation business, Bradenton-based G7 Financial Enterprises. He pleaded guilty April 14, according to a release from the U.S. Attorney's office.
Authorities contend that between 2008 and April 2013, Paul, through G7 Financial Enterprises, prepared and filed false and fraudulent tax returns for others. He added false information to his client's tax returns in order to fraudulently increase the amount of the tax refund, the release states. In exchange for his tax preparation services, he charged and collected tax preparation fees. Paul, the U.S. Attorney's office adds, then failed to report the income he had earned on his personal tax returns.
In addition to the prison sentence, Paul was ordered to pay $217,246 in restitution to the IRS. Paul is also permanently barred from preparing tax returns for other people. G7 Financial Enterprises, in addition to tax preparation, provided other services, including check cashing, money transfers and real estate sales.
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