A Web of Kickbacks and Corruption
Federal court documents painted the operation as a well-oiled machine fueled by corruption. Fisher paid generous commissions to a network of CPAs and financial advisors to peddle the shelters. The DOJ described it as “a legion of professionals corrupted by kickbacks.”
Among them:
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CPA William Tomasello, whose firm received $2.4 million in commissions.
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CPA Victor Smith, who earned $491,000 promoting the shelters.
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CPA Herbert Lewis, sentenced to over two years for helping file $14 million in false returns.
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CPA Ralph B. Anderson, sentenced to two years.
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Attorney Vi Bui, sentenced to 16 months and ordered to pay $8.3 million in restitution.
Now, Gabbay joins the ranks of the guilty, admitting he knowingly advised clients to provide false documents and helped fabricate tax filings to support the shelters.
Fallout and Accountability
Despite working at The Green Group in Woodbridge, New Jersey, the firm said Gabbay’s misconduct was conducted independently, outside of his duties there.
“This plea has nothing to do with his work at The Green Group,” managing partner Karlene Bauer told Law360.
The DOJ declined to comment further on ongoing matters. Gabbay himself has not responded to media inquiries.
As sentencing looms, Gabbay becomes a cautionary tale in an ongoing crackdown that has turned what once seemed like a legal tax loophole into a federal battlefield over accountability and abuse.
