Chicago Lawyer Gets 15 Years In Big Tax Fraud Case

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“The success of the scheme depended on the unethical and criminal behavior of highly educated and highly compensated professionals,” the judge said.

Prosecutors said Daugerdas helped create tax shelters for investors including the late sports entrepreneur Lamar Hunt, trust fund recipients, inventors, a grandson of the late industrialist Armand Hammer, real estate moguls and one of the earliest investors in Microsoft Corp.

Daugerdas was acquitted of nine charges, and the judge cited them in rejecting the 20-year term recommended by prosecutors, who called him the mastermind of the largest tax fraud in U.S. history.

Daugerdas is a former head of the Chicago office of a once prestigious Texas-based law firm, Jenkens & Gilchrist. The judge noted that the firm, with 600 attorneys and offices around the country, “collapsed under the weight of his criminal acts.”

After Daugerdas was convicted three years ago, the judge ordered a new trial because a corrupt juror had spoiled the verdict. The judge scolded prosecutors for failing to bring criminal charges against the juror.

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(Photo Source: Thinkstock

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