A Queens, N.Y. man was arrested today in connection with an alleged scheme to steal over $3 million in COVID relief tax credits using the stolen identity of a corporate executive in New Jersey.
Linval Jackson, 32, was charged by complaint with bank fraud, bank fraud conspiracy, and aggravated identity theft. Following an initial appearance in the District of Connecticut, Jackson was detained pending a July 15, 2024 hearing.
He will appear in federal court in Boston at a later date. Jackson’s alleged co-conspirator, Isaiah Aaron Tenryk, was previously arrested and charged by a separate criminal complaint in May 2024. He was subsequently released on conditions.
According to the charging documents, Jackson and Tenryk allegedly used a fraudulent driver’s license as well as the name and Social Security number of a corporate executive in New Jersey to open a bank account in Boston.
Tenryk then allegedly deposited an approximately $3 million Employee Retention Tax Credit (ERTC) check payable to the executive’s company into the fraudulent account.
ERTC is a refundable tax credit for certain eligible businesses that had employees and were adversely affected by the COVID-19 pandemic.
After the check was deposited, Jackson allegedly attempted to link the fraudulent account to other bank accounts he controlled to transfer the stolen money.
The charges of bank fraud and bank fraud conspiracy each provide for a sentence of up to 30 years in prison, five years of supervised release and a fine of up to $1 million.
The aggravated identity theft charge provides for a mandatory two-year sentence in prison to be served consecutive to any sentence imposed, one year of supervised release and a fine of up to $250,000.
Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes, which govern the determination of a sentence in a criminal case.
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