Charles P. Adkins and Jane E. Adkins v. United States

OPINION AND ORDER

SWEENEY, Judge

Plaintiffs Charles D. and Jane E. Adkins are victims of a fraudulent investment scheme, and seek a refund of federal income taxes based on the losses they sustained due to the scheme. The parties have cross-moved for summary judgment. Plaintiffs claim that the undisputed facts demonstrate that they suffered a theft loss of $2,575,958.19 in 2004, and that they are therefore entitled to a total income tax refund of $317,458. Defendant concedes that plaintiffs incurred a theft loss of $2,336,895.58, but contends that the undisputed facts establish that the balance…