- Associated Press - Thursday, June 26, 2014

NEWARK, N.J. (AP) - A woman has pleaded guilty in New Jersey to filing a false tax return that sought a refund of more than $350,000.

The Internal Revenue Service’s criminal division said Thursday that 62-year-old Halina Okla entered her plea in federal court in Newark.

Investigators say Okla purchased a “beneficiary in common” product, or BIC, from a company prosecutors say assists customers with hiding income and assets from the IRS.

The BIC product involved fake “bonds” and false and fraudulent promissory notes, which supposedly discharged debts. Prosecutors say Okla used the so-called “bond” to fraudulently claim a tax refund of approximately $356,574.67 on her 2007 federal tax return.

She could face up to five years in prison at her Sept. 30 sentencing.

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