Former law partner is convicted in tax-shelter scheme
A onetime partner at Jenkens & Gilchrist who oversaw its Chicago office has been convicted in a retrial stemming from his involvement in a tax-shelter scheme.
Illinois lawyer Paul Daugerdas was convicted on seven out of 16 counts, including conspiracy, tax evasion and mail fraud, Reuters reports. Former BDO Seidman CEO Denis Field, meanwhile, was acquitted of all charges in the retrial. The Wall Street Journal (sub. req.), Bloomberg News and Crain’s Chicago Business also have stories.
Daugerdas faces up to 58 years in prison when he is sentenced on March 21, Reuters says.
The tax-shelter allegations led to the 2007 dissolution of Jenkens & Gilchrist, which agreed to pay a $76 million penalty to the Internal Revenue Service.