According to the Justice Department between February 2011 and April 2011, Byrd opened four bank accounts to receive refunds. Thirty different refunds, issued in the name of 30 different individuals, were deposited into these. Byrd then transferred funds to co-conspirators or withdrew cash, while keeping a portion of the proceeds.Dailey was indicted on Dec. 4, 2010 on a variety of charges stemming from a large-scale tax fraud and identity theft conspiracy based in Montgomery. This ring was alleged to have used stolen identifies to claim millions of dollars in refunds in 2009 and 2010.
Dailey funneled tens of thousands of dollars in false tax refunds to co-conspirators. He also permitted them to deposit fraudulent tax refunds into his bank account and would then distribute this money to his co-conspirators while holding on to a portion of each transaction.Sentencing has not yet been scheduled for either Byrd or Dailey. Each faces a maximum of 10 years in prison, three years of supervised release, restitution and a maximum fine of $250,000, or twice the loss caused by the offense. Last modified on Sunday, 02 June 2013