Bridgeport Man Commits Massive Tax Fraud: Feds

BRIDGEPORT, CT — A Bridgeport tax preparer was sentenced to four years in prison followed by one year of supervised release, according to a statement from prosecutors. Rolando Russell, 62, was accused of preparing false tax returns for clients that resulted in $1.5 million in losses to the IRS.

In April, Russell pleaded guilty to two counts of aiding and assisting the filing of a false tax return.

According to court documents and statements made in court, Russell prepared approximately 1,820 federal tax returns for the 2013 through 2016 tax years through a tax return preparation practice he operated in Bridgeport.

The returns claimed a total of approximately $11.26 million in refunds, of which the IRS issued approximately $10 million, according to the statement. An investigation revealed that many of the tax returns he prepared included false Schedule C forms (“Profit or Loss from Business”), false unreimbursed employee expenses, and false charitable contributions.

The court has ordered Russell to pay restitution of $1,501,000.

Russell, who is released on a $100,000 bond, is required to report to prison on Oct. 16.

This matter was investigated by the Internal Revenue Service – Criminal Investigation Division, and was prosecuted by Assistant U.S. Attorney Christopher W. Schmeisser.