BrokerageIndustry News

Broker guilty of tax-credit fraud

Admits involvement in filing more than 200 false tax returns
Published on Apr 13, 2010

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by CareyBot

A Los Angeles-area real estate broker faces a potentially lengthy prison sentence after pleading guilty to filing 10 false tax returns seeking nearly $68,000 in fraudulent first-time homebuyer tax credits and earned income tax credits.

Kashawn Monique Savery, who's been doing business as Cornerstone Realty Group in Encino as a licensed broker since 2006, admitted at a hearing Monday to being involved in filing more than 200 false tax returns seeking more than $1.3 million in fraudulent claims, prosecutors said.

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