Fisher, Sinnott, and other conspirators received more than $41 million in payments that were backdated or late for false and inflated tax deductions in a scheme that stretched over two decades.

The two designed syndicated conservation easement tax shelters that promised tax deductions 4.5 times what their clients paid for units in SCE Tax Shelters. They enlisted several CPAs to sell the units and prepare documents. Two of these, brothers Stein and Corey Agee, pleaded guilty to conspiracy in December 2020.

Those funds were used to buy land and property holding companies and then donate the land or a conservation easement over the land – often within days or weeks of purchase. Fisher and Sinnott used appraisals of conservation easements and land donations at valuations of up to 10 times what they paid for the properties.

Fisher and Sinnott were convicted of conspiracy to defraud the United States, conspiracy to commit wire fraud, aiding and assisting the filing of false tax returns and subscribing to false tax returns. Fisher was also convicted of money laundering.