General Crime

* Seth Sundberg, 34 San Mateo Man Accused Of Claiming Fraudulent $5 Million Tax Refund

Fugitive Watch Logo 77x77px

A San Mateo man has been indicted by a federal grand jury in San Jose on charges of seeking and receiving a fraudulent tax refund from the Internal Revenue Service of $5 million.Seth Sundberg, 34, was indicted Wednesday on three counts of mail fraud, filing a false tax return for 2008,and making false claims against the government.He pleaded not guilty before a federal magistrate in San Jose on Wednesday and is due to return to court next Wednesday for an appearance before U.S. District Judge Jeremy Fogel.Sundberg was arrested in San Carlos on Sept. 9 and is being held without bail.The indictment replaced a Sept. 1 criminal complaint that charged Sundberg with one count of filing a false income tax return.Sundberg, who is acting as his own lawyer, is a former branch manager for a brokerage company, Access Mortgage and Financial, in San Mateo.He is accused in the indictment of falsely claiming and receiving a tax refund of about $5.08 million. The indictment alleges that Sundberg falsely claimed he had paid $5.7 million in taxes as a result of being credited with a type of interest known as original-issue discount income. Original-issue discount income is a method of accounting for the accrual in value of bonds that are bought at below face value and later redeemed at face value. Sundberg was investigated by a special unit of the IRS known as the Frivolous Return Program. Copyright © 2009 by Bay City News, Inc.Republication, Rebroadcast or any other Reuse without the express written consent of Bay City News, Inc. is prohibited.

Leave a Comment

Show Buttons
Hide Buttons