Criminal Justice

Former BigLaw partner admits underreporting his income by $2M

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.

Untitled Document

We welcome your comments, but please adhere to our comment policy and the ABA Code of Conduct.

Commenting is not available in this channel entry.