NEWS RELEASE

SOUTH CAROLINA DEPARTMENT OF REVENUE

Public Affairs Office

Contact: Danny Brazell

Phone: (803) 898-5464

FOR IMMEDIATE RELEASE

April 14, 2005

Spartanburg Tax Preparer Arrested on Tax Charges

South Carolina Department of Revenue investigators and Spartanburg County Sheriff's deputies arrested a Spartanburg County tax preparer today on charges of preparing fraudulent tax returns for his clients.

Ricky Costello Williams, 45, owner of W & B Financial Management and Tax Preparation in Spartanburg, was charged with 10 counts of preparing fraudulent state income tax returns. Williams is being held at the Spartanburg County Detention Center pending a bond hearing.

Williams is accused of exaggerating deductions and exemptions on some of his clients' 2004 tax returns to obtain a larger refund for them. The case is ongoing and Department of Revenue auditors are reviewing other tax returns prepared by Williams. More arrests could be pending.  

Williams is facing up to 50 years in prison and fines of up to $5,000 if convicted of all the charges.

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