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Preparer Indicted in $7.3M Alleged Fraud

A Florida tax preparer has been indicted on charges he fraudulently obtained more than $7.3 million from three government loan programs. Barrie J. Osborne, 76, of Celebration, was also accused with laundering the proceeds.

The indictment alleges that beginning about January 2018, Osborne and eight individuals in California conspired to obtain Paycheck Protection Program, Economic Injury Disaster and pre-pandemic Small Business Administration loans for dormant companies or organizations with limited business operations.

Osborne was paid to create fake documents, including fake bank statements and fictitious tax documents to make the businesses to appear to be operating. He provided a script to participants to use in calls with lenders.

The indicated also alleges Osborne created “forgiveness plans” via which his co-conspirators transferred proceeds as purported payroll expenses that obtained the PPP funds, including one of his own companies.  The plans were designed to make it appear loan recipients were meeting SBA requirement that a percentage of the PPP funds be used for payroll, increasing the chances for loan forgiveness.

The indictment charged him with conspiracy to commit wire and bank fraud, wire fraud, bank fraud, and conspiracy to commit money laundering

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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