A Washington, DC-based CPA has pleaded guilty to making a false statement on a mortgage application and failing to file an income tax return.
Timothy Trifilo was a managing director at an unnamed tax firm where he specialized in transaction structuring and advisory service, tax compliance and tax due diligence. According to the charges brought against him, Trifilo did not file federal income tax returns or pay all the taxes that he owed for a decade despite earning more than $7.7 million during that time. As a result of his actions, he caused a tax loss of more than $2 million to the IRS.
In February 2023, Trifilo sought to obtain a $1.36 million bank-financed loan to purchase a home in Washing and was working with an unnamed mortgage company to secure the loan. After the mortgage company told Trifilo that the bank would not approve the loan without copies of Trifilo’s filed tax returns, Trifilo provided the mortgage company with fabricated documents to make it appear as if he had filed tax returns and provided copies of tax returns for 2020 and 2021. Trifilo listed a former colleague as the individual who prepared the returns and uploaded them for filing with the IRS – but this individual had never prepared Trifilo’s returns and was unaware that he was being named in the paperwork. Based on Trifilo’s false representation, the bank approved the loan and Trifilo purchased the home.
Trilio will be sentenced on May 19, 2025, and faces a maximum penalty of 30 years in prison on the charge of making a false statement on a loan application and a maximum penalty of one year in prison on the charge of failure to file a tax return. He also faces a period of supervised release, monetary penalties and restitution.
Linked In shows Timothy as a Managing Director at Alvarez & Marshal in Washington DC. He appears to be still advising clients.
Remember: Some people don’t update their LinkedIn profiles.
“It’s better to stay out of trouble than to get out of trouble”
My grandfather shared this with me throughout my childhood. Don’t you think that now this man would want to have paid $2 million in exchange for his freedom? Think of the loss of credibility and future earning potential. Think of the potential sentence of 30 years in prison. Was it worth it? Of course not. I’m always struck by the brilliance of those who do white collar crimes. If only they used it for Good. How much better off the world would be.
Which. Rings me back to my main question in life. Who is raising these people? If they had good upbringings with God as the center of their life how could they stray? We need more Moms and Dads teaching and demonstrating Gods love and imparting this to their children as they are raised in wholesome homes without so much confusion. These poor children don’t stand a chance without having a base of foundation as God as it’s center.
Excellent point 👍