The Greatest Tax Cheat in History
Paul Daugerdas, a lawyer and certified public accountant from Wilmette, Illinois, seems to have won the world record for the biggest tax cheat in all history. He was sentenced recently to 15 years in prison.
He was found guilty of tax evasion, mail fraud, wire fraud, conspiracy to defraud the IRS and of “corruptly endeavoring to obstruct and impede the internal revenue laws.”
According to a press release issued by the Department of Justice, Mr. Daugerdas marketed and implemented fraudulent tax shelters used by wealthy individuals to evade over $1.6 billion in taxes owed to the Internal Revenue Service (IRS), yielding approximately $95 million in fees to Daugerdas personally.
He was ordered to pay $371,006,397 in restitution to the IRS.
Several other co-conspirators had already been convicted and sentenced for their parts in this massive 20 year scheme.
– Mark S Gleason CPA