Thursday Sep 07, 2023
Episode 22: Desperate Deals: The Rise and Fall of a King and His Tax Castle
Episode Title: Desperate Deals: The Rise and Fall of a King and His Tax Castle
Episode Summary:
In this gripping episode of Tax Crime Junkies, hosts Dom and Tom delve into the shocking true story of King Isaac Umoren, a tax preparer turned criminal mastermind. From impersonating an FBI agent to selling a fraudulent tax business, Umoren's tale is a cautionary one, filled with deceit, audacity, and a web of lies that ensnared not just him but also his employees and clients.
What You'll Learn:
- How King Isaac Umoren used his tax preparation business as a front for multiple fraudulent schemes.
- The emotional and financial toll on the victims, including the staff and the new owners of the fraudulent business.
- The legal consequences Umoren faced, including 18 charges related to the fraudulent business sale.
- Insights into the IRS investigation and the patterns of fraud detected.
Key Moments:
-
Introduction (00:00-03:00): Dominique and Tom set the stage with a relatable problem—clients failing to pay for services—and introduce the main story.
-
The Impersonation Act (03:01-08:00): The hosts describe Umoren's audacious impersonation of an FBI agent and how it led to his initial arrest.
-
The Fraudulent Business Sale (08:01-15:00): Learn how Umoren sold his tax business based on inflated values and fraudulent documents, fooling the new owners.
-
The Human Toll (15:01-20:00): Dominique and Tom discuss the impact of Umoren's actions on his employees, who were left jobless and financially strained.
-
The Legal Consequences (20:01-25:00): The hosts delve into the charges Umoren faced and how his actions caught up with him.
-
IRS Investigation (25:01-30:00): Tom explains the IRS's role in uncovering the fraudulent activities within the tax preparation business.
-
The Downfall (30:01-35:00): The story comes full circle, reflecting on the broader implications of unchecked ambition and deceit.
-
Conclusion and Teaser for Next Episode (35:01-36:00): The hosts wrap up the episode and tease what's coming up next on Tax Crime Junkies.
Subscribe & Share:
If you enjoyed this episode, please consider subscribing and sharing it with friends who could use a tax crime junky podcast in their life. Help us spread the word and come back for more!
Legal Disclaimer:
This podcast is for entertainment purposes only. All facts are sourced from public records or similar, and the episode is not intended to defame or misrepresent anyone involved.
Next Episode:
Stay tuned for our next episode, where we'll bring you more stories of tax and financial crimes—and how to avoid even the appearance of impropriety. We'll be starting a 2 part series on How Sarma Melngailis, Queen of Vegan Cuisine, Became a Runaway Tax Fugitive
Comments (0)
To leave or reply to comments, please download free Podbean or
No Comments
To leave or reply to comments,
please download free Podbean App.