Matthew Cox | Inside True Crime Podcast
Corrupt Accountant Steals Millions From The IRS | Lessons From Loss, Greed, & Betrayal
Thu, 20 Mar 2025
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Chapter 1: What led Sean to commit tax fraud?
i never thought that i could go to prison for preparing fraudulent tax return i lost all my houses all my money my stock account people that i thought loved me betrayed me cooperated against me i could have quit and gave up nah not me man we gotta end this story why just i just you got water in your eyes the starting over was so fucking
August of 87, I was enrolled in college at Morris Brown College in Atlanta, Georgia as an accounting major. I do three semesters, right? And then my addiction takes off. Now I'm just getting high to the point where I'm not even... Going to school, I ain't working, I ain't doing nothing. My life is just completely falling apart.
I'm 21 years old, this is 1990, and I just can't believe the mess that I done made in my life, right? And I'm telling myself like, yo, Sean, man, you better than this, man. You better than this. You came down here to go to college, man, and look at what you're doing, man. But I didn't want to admit that I had a problem. I had a problem with that, right?
Because I thought that that was a sign of weakness for a nigga to be like, oh, I can't control my drug use. I can't control my alcohol. I can't control my weed. But that was my reality, man.
Mm-hmm.
That was my reality, and I ended up going to a 28-day treatment program in Smyrna, Georgia, and I got clean, and I never looked back, man. I never got high after that since.
So you got out. What'd you do? You went back to school?
This facility, this 28 day program changes my life. They say, Sean, man, you got to go to 60 days aftercare twice a week and then start going to meetings, man. You know, start making AA meetings, start making NA meetings. You know what I'm saying? And at that point they had CA meetings. And I did everything they told me, man, because drugs and drug addiction, man, that shit beat my ass, man.
Nothing's ever did me like that, right? The pain, the psychological pain, the spiritual pain, the lost hopes, the dreams lost. Hey, I leave Jersey to go to Atlanta to go to college, get an accounting degree. And like I told you, all through junior high and high school, I'm gifted and talented. Academics has never been nothing for me.
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Chapter 2: How did Sean's drug addiction affect his life?
For a month? They arrested me, man. And that knocked me out the box from that first offender joint. And, yeah. So... Now the felony is on my record. So I can't work for a financial institution. I can't work for a bank. I can't work on Wall Street. All of those dreams are dead.
So I come back to Jersey and I'm caddying on the golf course and a Polish dude, man, white man, he took a liking to me and he placed accountants. He added a placement firm, recruitment firm, and then he placed accountants, so. He said, Sean, didn't you get your degree? He said, what you doing caddying, man? And I told him, I said, man, you know what I'm saying? I'm fucked up, man.
I got discharged. He said, bring me your resume. He said, come and see me on Monday. Bring me your resume. So I went up to his office and seen him. His office was in Total Wild, New Jersey. I went up there, and he took my resume, and he got me a job. He got me a job. And I think he... forfeited his fee as a favor for me to get the job with the company.
Because when they place people, the company pays them. I think he told him, man, don't worry about it. Just give my man a job. He's cool. I know him. He's all right. And I got that job. And I was... I worked that job, I got that job in 95. I think I stayed there till like 99, 90, 99. Got promoted and I ended up doing what I always wanted to do, which was mergers and acquisitions.
Went back, got my master's degree with that company through a tuition reimbursement program. And worked in the accounts receivable department, the compliance department, the law department, the finance department, and end up eventually doing, became a senior business analyst doing mergers and acquisitions across the country of real estate companies.
Working on small deals, the $10,000 roll-ups to $100 million companies.
Okay. So why'd you leave there? Did you go start your own thing?
They passed me up for a promotion, man. And it pissed me off, man. They passed me up for a promotion. I was doing the mergers and acquisitions, right? I was the senior business analyst, right? It was another dude that was doing the same thing I was doing, but I trained him. So the director's position comes open. It's got to be me. It's got to be me. The VP...
Hires his homeboy from a whole nother department who went to the same college with him. They started the company at the same time. Hires him to come in and be the director. And this motherfucker didn't know nothing about how to do reconstructed EBITDA. You know, put multiples on company. He knew nothing. I had to train this motherfucker, man. And I was hot. I was hot.
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Chapter 3: What was Sean's turning point towards recovery?
So it's a short sale because they're willing to short what they're owed for a sale as a result of them having to foreclose on a property. Because typically a foreclosure, they get about 70 cents on the dollar of what the house is really worth. So the house is really worth 210. They're not even going to get the 210. They're going to get 30% less than that.
And have to continue to pay the taxes on it. And they're worth... And they've owed 300 grand. So your deal is better. It's better that way. Plus, they get the keys back. People don't put up a fight.
You get somebody else in the property. You know what I'm saying?
Yeah. That's all you need is somebody walks in front of a judge trying to foreclose with a couple of little snotty-nosed kids. And they're like... Or they... Bring some kid in with the oxygen masks, you know, and my honor, your honor, my my son is he's on oxygen. You can't throw us out. And the judge says, I'll give him another six months. Give him another year. Give it.
I think you keep doing that. Like there are people there years they were staying in houses. Yes.
So it's you know, you take the short payoff and you get the shit off your books and you move on to the next deal. Right.
Yeah, which is obviously, that's different than a loan modification. Did you ever try and do any loan modifications or no?
I did.
That's like 2009, wasn't that later?
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