University Of South Dakota Athletes Ran Tax-Fraud Scheme, Made $400,000

SIOUX FALLS, S.D. (AP) — He wore a hoodie and a stocking cap as he made multiple trips to an ATM on a warm day in April 2012, cutting a suspicious enough figure that a concerned citizen tipped off police in the college town. Using surveillance video, they discovered a cornerback for the University of South Dakota’s football team was using a preloaded debit card that had been issued for a tax refund.

The card, however, did not belong to Alphonso “Rico” Valdez. A scheme to defraud the IRS of $1.1 million began to unravel. After a months-long investigation, authorities busted up the fraud ring, which netted about $400,000 over nearly a year.

Continue reading at Huffington Post.

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