NEW YORK (AP) — Federal authorities have indicted the former chief executive of a major accounting firm and six others in what they say was a wide-ranging scheme that generated billions in fraudulent tax losses.
The indictment filed Tuesday in Manhattan federal court charges the seven with 27 counts that include conspiring to defraud the IRS and tax evasion.
One of those charged is the former chief executive officer and board chairman of BDO Seidman, a national accounting firm that was founded nearly 100 years ago in New York.
Prosecutors claim the defendants designed and marketed fraudulent tax shelters to wealthy clients from 1994 to 2004.
by the associated press
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