Sacto 9-1-1
July 31, 2013
Former NBA players' investment adviser from Granite Bay sentenced to 16 months in tax fraud scheme

By Mark Glover
mglover@sacbee.com

A former Roseville accountant has received a 16-month jail term in connection with a $4.5 million tax fraud scheme.

State Attorney General Kamala Harris said Larry Harmon, 48, a Granite Bay resident, was sentenced Tuesday in Sacramento Superior Court.

The scheme revolved around fraudulent claims for tax returns on defaulted car loans. State officials said fraudulent claims were filed on behalf of Harmon's company, Larry Harmon & Associates.

Harmon was arrested in January. In April, the Sacramento-based California Board of Accountancy suspended Harmon's certified public accountant license.

Investigators said Harmon represented financial institutions seeking sales tax refunds from the state Board of Equalization. A lender is entitled to submit a refund request to BOE when an individual defaults on a car loan and the vehicle is repossessed.

Officials said Harmon created fraudulent bank documents and loan papers, along with a shell company called Premier Capital Finance.

Harmon once managed investments for professional players in the National Basketball Association.

Call The Bee's Mark Glover, (916) 321-1184.

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