Regina Shields, 40, of Cincinnati, Ohio pleaded guilty to one count of
filing false claims for federal income tax refunds with the Internal Revenue
Service (IRS) and one count of wire fraud.
to court documents, Shields formed a non-profit corporation called Free
Truth Enterprises and, since 2000, Shields has served as the President and CEO.
From 2007 through 2010, Shields filed federal income tax returns with the IRS
claiming $61,315 in false claims for income tax refunds.
addition, Shields devised a scheme in which she attempted to purchase a
property located at 2985 Timbercrest Drive, Cincinnati, Ohio at a sheriff's
sale using a check with insufficient funds. Shields applied for and
received a fraudulent mortgage loan on this property through a fraudulent loan
application. Shields faxed several fraudulent documents to Quicken Loans
in support of the loan application for this property.
faces a maximum sentence of 20 years in prison and a fine of up to $250,000.
She will be sentenced at a later date.
Shields has agreed to pay restitution to the IRS in the amount of $61,315, and
restitution in the amount of $141,491 to Title Source, Inc. (related to Quicken
commended the cooperative investigation by special agents of IRS-Criminal
Investigation and the FBI, Assistant United States Attorney Timothy Mangan who
is prosecuting the case.