When a “Too Good to Be True” Dedication Turns into a Prison Sentence.Some tax loopholes are clever… until they cross the line into criminal activity. Ofer Gabbay, a well-established CPA from Paramus, New Jersey, just pleaded guilty for...
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How Did a NJ CPA End Up in a $1.3B Tax Shelter Fraud Scheme
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Subscribe27 JUN 2025 / ACCOUNTING & TAXES
CPA Ofer Gabbay from Paramus, New Jersey, has pleaded guilty to aiding high-income clients in fraudulent tax activities, using fake conservation easements wrongly offered as charitable deductions. This magnified tax evasion scheme, labeled as one of the largest conservation easement frauds in U.S. history, involved several professionals including CPAs, attorneys, and financial advisors, and Cabbay now faces a potential five-year federal prison sentence, in addition to restitution, supervised release, and monetary penalties.
When a “Too Good to Be True” Dedication Turns into a Prison Sentence.Some tax loopholes are clever… until they cross the line into criminal activity. Ofer Gabbay, a well-established CPA from Paramus, New Jersey, just pleaded guilty for...
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