A former tax return preparer has been sentenced to 151 months in prison for participating in a tax fraud scheme to hide income and assets in bogus trusts, according to the U.S. Justice Department.
Louis Wayne Ratfield, who operated LWR Accounting and Tax Service, and later LWR Financial Services Trust, in Lake Worth, Fla., is facing the jail sentence. U.S. District Court Judge Daniel T.K. Hurley in West Palm Beach, Fla., also sentenced Ratfield to five years of supervised release and ordered him to pay $40,000 for the cost of prosecution.
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