Federal authorities in Boston have added a ninth name to the list of suspects allegedly involved in a multi-million dollar tax refund theft ring spanning across Massachusetts.
Victor Vasquez, 40, of Gardner, was arrested yesterday and charged with the theft of government funds after federal investigators linked him to a stolen U.S. Treasury check worth nearly $1 million.
The case against Vasquez stems from a June 2024 transaction where he allegedly deposited a check for $988,744 into a credit union account. While the check was originally issued to a different taxpayer, court documents claim it had been altered to show Vasquez as the payee.
Investigators say he funneled the money into an account for Victor Northeast Construction, LLC—a business he had actually shuttered years ago.
The paper trail didn’t stop at the deposit. Shortly after the funds hit the account, Vasquez allegedly moved $8,000 to cover personal loan balances. When credit union officials grew suspicious and called to verify the source of the massive windfall, Vasquez reportedly claimed the money was a business tax refund.
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However, prosecutors point out a glaring hole in that story: the business wasn’t even incorporated during the tax year in question, and Vasquez had never filed a return on its behalf.
This arrest is the latest development in a broader crackdown on local financial fraud. Last June, eight other individuals were charged in a similar scheme involving roughly $8.8 million in stolen Treasury checks.
“The details contained in the charging document are allegations,” officials noted in a joint statement. “The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in the court of law.”
If convicted, Vasquez faces a steep price for the alleged fraud, including up to 10 years in federal prison and a fine of $250,000. For now, he has been released on conditions following his initial appearance in a Boston federal court. The case is being prosecuted by Assistant U.S. Attorney Seth B. Kosto, head of the Securities, Financial & Cyber Frauds Unit.
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