Highlights of the Week: Top IRS Criminal Investigation Stories
In case you missed it, here’s a roundup of the most significant IRS Criminal Investigation (CI) stories from the week of November 6th to 12th, 2023.
Understanding the Role of CI
The Criminal Investigation unit, better known as CI, is a crucial arm of the IRS. It is tasked with the responsibility of conducting financial crime investigations. This includes tax fraud, narcotics trafficking, money-laundering, public corruption, healthcare fraud, identity theft, and more. CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code. With a federal conviction rate exceeding 90 percent, the agency’s efficacy is evident. The agency operates from 20 field offices across the U.S. and 12 attaché posts abroad. For more information, visit the [IRS.gov/CI](https://www.irs.gov/compliance/criminal-investigation) page.
Noteworthy CI Stories of the Week
Bitwise Founders Charged for Massive Fraud
Bitwise founders Irma Olguin, Jr. and Jake Soberal have been charged for a fraud scheme amounting to $100 million. This comes as a shock, as Bitwise was reported to be worth over $500 million and financially stable before its sudden collapse earlier this year.
Former Judge Sentenced for Fraud in Puerto Rico
Arnaldo Irizarry, a former judge and legal advisor to a former local mayor, has been sentenced for a $9 million fraud in Puerto Rico.
Denver Man Indicted for Tax Evasion
A Denver man, Garcia, has been indicted for tax evasion and failure to file tax returns. The indictment alleges that Garcia owes the government more than $225,000 in tax liabilities over a five-year period.
Global Tax Enforcement United Against Transnational Tax Crime
The Joint Chiefs of Global Tax Enforcement (J5) have reaffirmed their commitment to combating transnational tax crime. The J5 consists of the Australian Taxation Office, the Canada Revenue Agency, the Dutch Fiscale Inlichtingen- en Opsporingsdienst, the British HM Revenue & Customs (HMRC), and the IRS.
Join the Fight Against Financial Crime
If you’re interested in a career as a financial investigator, don’t hesitate. The CI’s team of recruiters are actively speaking with candidates throughout the country.
Stay Vigilant Against Tax Schemes and Fraud
Stay informed about tax fraud alerts and learn how to report suspected tax fraud. The IRS also provides a voluntary disclosure program for taxpayers who want to come clean about their tax liabilities. For more resources, visit the CI Newsroom, check out CI News Releases, and explore CI Resources, including CI Annual Reports.
