Frazier B. Todd Jr., 58, of Atlanta, who owned and operated Diverse Resource Business and Tax Firm in Union City, has been found guilty of preparing fraudulent tax returns on behalf of clients, according the U.S. Department of Justice.
The verdict was handed down after a three-day trial. The justice department said two others, Cozzie Walker, 42, and Robert Sheffield, 43, were also charged in the case and previously pleaded guilty.
According to the charges, other information presented in court and U.S. Attorney John Horn, Todd conspired with Walker and Sheffield to exploit the American Opportunity Tax Credit, which is a refundable tax credit for certain college expenses.
In addition, Todd was convicted of a broader fraud scheme of exploiting the American Opportunity Tax Credit and as well as as other tax credits in order to maximize clients’ refunds.
Walker and Sheffield, both of Atlanta, are scheduled for sentencing on February 23 before U.S. District Court Judge Mark H. Cohen. Todd is scheduled for sentencing on March 8. The IRS is also investigating the case.
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