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Chicago lawyer found guilty over 'largest tax fraud in history'

By Neasa MacErlean

04 November 2013 at 17:06 BST

The former Chicago head of now defunct law firm Jenkens & Gilchrist could face up to 58 years in prison over a US $7 billion deceit.

Paul Daugerdas, former Chicago lawyer, is found guilty of tax fraud Steve Wood

Paul Daugerdas will be sentenced in March, after being found guilty of defrauding the Internal Revenue Service, evading tax and other offences. According to KansasCity.com, he made fees of $95m in creating and marketing tax shelters to wealthy clients but he has paid less than $8,000 in tax. In a city made famous for tax dodging by Al Capone, this case has brought notoriety as as claims of $7 billion tax losses were described as 'the largest tax fraud in history'.


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