An Arvada woman indicted on 50 counts of fraud for allegedly posing as an accountant turned herself in at the Glendale Police Department last night.
A Jefferson County grand jury indicted Denise Smith, 51, on Friday.
The 30-page indictment alleges that Smith operated out of her home in Arvada doing business as a certified public accountant and sometimes as a tax attorney.
“Her clientele is almost exclusively law enforcement,” said Pam Russell, a spokeswoman for the 1st Judicial District.
The charges allege that without her clients’ knowledge, Smith inflated their tax deductions for categories such as laundering uniforms and mileage. She allegedly inflated the deductions enough to cause her clients’ taxable income to decrease, which meant they got a larger refund on both their federal and state returns.
“Her clients are victims and did not know what she was doing,” Russell said. “We have absolutely no reason to believe the clients knew there was anything criminal going on.”
Russell said the scheme unraveled when one client got notice that he was going to be audited.
Many victims have been audited and will be required to pay penalties and interest, she said today in a news release.
Smith posted $50,000 bond and her first court appearance is scheduled for April 3.
