SENATOBIA, Miss. (WMC) - A Mississippi man has been found guilty of defrauding the IRA.
According to the Department of Justice, Terry Benson, 47, from Senatobia, Mississippi, was found guilty by a four-day jury trial. Benson was found guilty of theft of government funds, mail fraud, and passing fictitious instruments.
Officials said Benson was guilty of defrauding the IRS by submitting fictitious financial instruments worth $393,053.78 and $1.3 million and other numerous fraudulent documents, causing the IRS to send him a refund check for $297,311.12
An investigation revealed he used the money to open accounts with Morgan Stanley and Regions Bank to purchase a mobile home and other personal items.
The DOJ added that Benson sent the IRS a fictitious money order as a “Tax Account Settlement Payment” which was applied to balances he owed for tax years 2006, 2007, and 2010 to settle his debt.
He also filed many fraudulent documents with the IRS naming public officials, organizations, or other entities in the documents, according to the DOJ.
Benson was also indicted for theft of government funds, mail fraud, and passing a fictitious financial instrument in March 2019. The sentencing hearing for those crimes is February 25, 2021.
He faces up to 10 years for theft of government funds; up to 20 years for mail fraud; and up to 25 years for passing fictitious instruments.
The news release added there is no parole in the federal system.