Man pleads guilty to movie tax credit scam - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

Man pleads guilty to movie tax credit scam

BATON ROUGE, LA (WAFB) -

A man pled guilty Tuesday to a scheme to take advantage of Louisiana's movie tax credit program.

Daniel Garcia, 36, admitted to scheming with another person to transfer $1 million from an investor through four separate production companies to receive $900,000 in tax credits.

The transfers between companies created canceled checks that were used as documentation for $3,000,000 of movie production.

The Tax Credit Program provides a 30 percent tax credit on qualified expenses for movie productions in Louisiana.

When sentenced, Garcia faces up to five years in prison, three years of supervised release afterwards and $250,000 in fines.   A sentencing date has yet to be scheduled.

Copyright 2013 WAFB. All rights reserved.

Powered by Frankly