The Sacramento-based California Board of Accountancy has suspended the certified public accountant license of Roseville businessman Larry Harmon in connection with an alleged tax fraud scheme.
Harmon is facing charges in connection with forging signatures of bank officers on defaulted vehicle loans to get more than $6 million in tax refunds from the California Board of Equalization.
State officials said Harmon, arrested Jan. 9 and booked into the Sacramento County jail, admitted to state investigators that he had filed fraudulent claims for tax refunds on behalf of his company, Larry Harmon & Associates.
Investigators claim that thousands of tax refund requests were filed for defaulted vehicle loans originally financed by another entity. The Board of Equalization said a lender making a car loan is entitled to apply for a refund of the sales tax directly from the agency, if there is a default on the loan.
"Mr. Harmon is out on bail. This interim suspension order will prevent him from further abusing his CPA license until an administrative hearing before the CBA can be held," said CBA Executive Officer Patti Bowers.
Call The Bee's Mark Glover, (916) 321-1184.