HUFFINGTON POST / AP: A Chicago lawyer and certified public accountant was convicted Friday for his role in a 10-year tax fraud that generated $7 billion in phony tax losses, a scheme authorities have called the largest tax fraud in history.
Paul Daugerdas, the 63-year-old former head of the Chicago office of the now defunct Texas-based law firm Jenkens & Gilchrist, was found guilty of conspiring to defraud the Internal Revenue Service, evade taxes, commit mail and wire fraud and other crimes after a seven-week jury trial in federal court in Manhattan, U.S. Attorney Preet Bharara said…
The tax shelters, prosecutors said, were marketed from 1994 through 2004 to the wealthy and well-connected, including the late sports entrepreneur Lamar Hunt, trust fund recipients, investors, a grandson of the late industrialist Armand Hammer and a man who was one of the earliest investors in Microsoft Corp… (more)
