Two tax preparers from Olive Branch, Mississippi, have been indicted on charges of submitting $65 million in false claims for refunds under COVID-19 relief programs. Renata Walton, 44, and Nicole Jones, 36, face over 50 counts of wire fraud, money laundering, preparing false tax returns, and obstruction of justice.
The U.S. attorney's office in Memphis announced that Walton and Jones filed for tax credits for their clients under the Employee Retention Credit and the Sick and Family Leave Credit, despite their clients not being entitled to them. This resulted in six-figure tax refunds for the clients, with Walton and Jones receiving large fees that were then laundered through local banks.
