COLORADO
A business owner plead guilty Wednesday to conspiracy for his role in a $7.2 million renewable fuel tax credit scheme, according to authorities.
Court documents indicate that Calvin Glover of Parker, Colorado, owned Colorado-based renewable fuel company, Shintan, Inc. Glover conspired with others to file more than $7 million in false claims for refundable fuel tax credits with the IRS.
Glover faces up to 5 years in prison at a later date, according to officials.
Glover signed at least 23 false tax returns that claimed over $7.2 million in bogus refundable biodiesel mixture tax credits. Based on these false claims, the IRS issued over $7 million in refunds to Shintan Inc.
After receiving the refunds checks, Glover deposited the checks into a bank account that he controlled and then transferred the proceeds to his co-conspirators.
In response to two grand jury subpoenas issued during the investigation, officials said Glover provided false documents and information to investigators and met with co-conspirators to concoct a false story, all intended to obstruct the IRS’ ongoing criminal investigation.