October 5, 2018

Following a court trial, a federal court in Utah has ordered that RaPower-3 LLC and International Automated Systems, Inc. stop all promotion and marketing and disgorge $50 million collected in an abusive tax scheme involving false tax deductions and solar energy credits.  The companies and their principals marketed what they claimed was technology that could be used in the production of solar energy and which, they further claimed, entitled the purchasers to take certain tax deductions and solar energy tax credits.  In fact, however, the technology was phony and defendants knew that its purchasers would not be entitled to the tax deductions and credits.  DOJ

Tagged in: Abusive Tax Shelters, Environmental Fraud, Tax Credit and Deduction Fraud, Tax Fraud,