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Criminal Justice

Former BigLaw partner admits underreporting his income by $2M

Posted Mar 6, 2013 7:27 AM CDT
By Debra Cassens Weiss

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A former bankruptcy partner at Kirkland & Ellis pleaded guilty on Tuesday to four counts of tax fraud.

In a plea agreement, Theodore Freedman, 65, admitted underreporting his income by more than $2 million between 2001 and 2004, the New York Law Journal reports. He will be required to pay $671,000 to the Internal Revenue Service and $169,000 to the state of New York.

The government had also alleged that Freedman deducted expenses for a nonexistent solo practice, and he used Kirkland’s address as the address for the solo firm.

Freedman left Kirkland & Ellis in October 2010 and was indicted in July 2011. A law firm spokeswoman refused comment at the time, saying the allegations related exclusively to Freedman’s personal conduct.

Sentencing is set for Sept. 17 in New York federal court.

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