Chicago lawyer pleads guilty in NY in tax fraud

AP News
Posted: Sep 13, 2012 1:57 PM
Chicago lawyer pleads guilty in NY in tax fraud

NEW YORK (AP) — A Chicago lawyer has pleaded guilty in New York to helping wealthy clients dodge tens of millions of dollars in taxes in what prosecutors have called the largest tax fraud prosecution in history.

Donna Guerin (GEER'-ihn) entered the plea Thursday in Manhattan federal court to conspiracy to defraud the United States and tax evasion. Sentencing for the Elmhurst, Ill., resident was set for Jan. 11. She agreed to forfeit $1.6 million.

Guerin admitted helping draft letters to make it seem wealthy clients were investing in legitimate business ventures. She said she knew that many clients were "only interested in reducing tax liabilities."

The government says clients included trust fund recipients and a man who was one of the first investors in Microsoft Corp.