Chicago lawyer found guilty in tax shelter scheme
Lawyer News
A Chicago lawyer was found guilty Wednesday of conspiracy to commit tax fraud in connection with the sale of tax shelters.
A New York jury also convicted John Ohle III, 42, of two counts of tax evasion for failing to report about $6.5 million in income in 2001 and 2002, the U.S. attorney's office in Manhattan said Thursday. A fellow lawyer, William Bradley of Hammond, La., also was convicted in the conspiracy scheme.
The guilty verdicts are a big victory for New York federal prosecutors who have investigated a web of Chicago lawyers, bankers and accountants who helped hundreds of wealthy clients skirt taxes through the sale of questionable tax shelters starting in the 1990s. Last year, seven people, including the former chief executive of BDO Seidman, a Chicago-based accounting firm, were charged with fraud and conspiracy related to the sale of allegedly fraudulent tax shelters.
One of the shelters was known as "Hedge Option Monetization of Economic Remainder" or "HOMER." The U.S. attorney's office said Ohle sold HOMER to clients of Bank One, where he was employed from November 1999 to early 2002. Ohle continued selling the shelter after leaving the bank and forming his own company, Chicago-based Dumaine Group LLC.
Prosecutors had alleged that Ohle and Bradley conspired with others to create fraudulent invoices to obtain referral fees on transactions involving HOMER. Ohle illegally collected more than $800,000, prosecutors said.
Related listings
-
High court to hear Arizona school case
Lawyer News 05/25/2010The U.S. Supreme Court will consider ending a lawsuit that challenges Arizona's tax breaks for donations for thousands of private school scholarships.The Washington-based court on Monday said it will hear two appeals filed by the state and supporters...
-
Las Vegas Tax Law Firm
Lawyer News 05/10/2010Bryan A. Lowe & Associates - Las Vegas Tax Law Founded in 1982, Bryan A Lowe & Associates is a law firm based in Las Vegas, Nevada. The firm provides a wide range of services, primarily in the areas of estate planning, probate, bankruptcy, ge...
-
IRS sues St. Louis tax lawyer over fraud claim
Lawyer News 04/13/2010The federal government is trying to bar a financial attorney from offering alleged fraudulent tax saving schemes that help wealthy clients, many of them in the St. Louis area, according to a suit filed Monday in U.S. District Court here.In the suit, ...
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.