Tuesday, June 3, 2014


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Queens CPA who conned clients and sought fraudulent tax refunds pleads guilty

ALBANY - The New York State Department of Taxation and Finance announced that a Jamaica, Queens certified public accountant who tried to defraud the State out of millions of dollars in tax credits has pled guilty.

Md Hyder Alam, 47, of 87-39 167th Street, was arrested last year and charged with preparing and filing 367 New York tax returns for the 2009 tax year in which he claimed unqualified tax credits.

Alam pled guilty on May 27 to Attempted Grand Larceny in the Fourth Degree, a misdemeanor. He received a conditional discharge and was ordered by the court to make restitution to New York State of $75,000.   

The case was investigated by the Tax Department’s Criminal Investigations Division and prosecuted by the Queens County District Attorney.

“I thank District Attorney Richard A. Brown for his diligent prosecution of this case and others like it,” said Commissioner Thomas H. Mattox. “This case serves as a warning to dishonest tax preparers and the taxpayers who would consider using their illegal services.  Tax preparers are responsible for their clients’ financial well-being and must be held accountable when they betray that trust.”

Alam solicited taxpayers by claiming that he specialized in a “secret tax credit”—a “Special Additional Mortgage Recording Tax Credit”—that doesn’t actually exist.  In turn, taxpayers were charged fees up to 50% of the refund amount.  

A Tax Department audit team known as FAST (Fraud Analysis and Selection Team), which specializes in uncovering refund schemes such as this one, discovered  the scheme during the normal processing of income tax returns.  Since its inception just over two years ago, FAST has saved New York taxpayers more than $150 million in denied payments of fraudulent refunds.

In New York State, 96% of taxes are paid by businesses and individuals who voluntarily meet their tax responsibilities. The remaining 4% is collected through the Tax Department's audit, collections and criminal investigations programs. Through its enforcement programs, the Department ensures fair tax administration for all New Yorkers.