3,493stolen identities used to open bank accounts in one scheme
One stolen-identity tax refund ring used 3,493 stolen identities to open bank accounts at 443 financial institutions and sought more than $35 million in IRS refunds.
Xerxes Shevar of Brooklyn pleaded guilty to wire fraud conspiracy for his role; the IRS paid out at least $10 million of it before he was sentenced in July 2025 to three years of probation and $290,000 in restitution.
Source: US Internal Revenue Service, Criminal Investigation. Read more: stolen identity refund fraud · case file