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Tax Lawyer-CPA Gets 15 Years for Fraud

Paul M. Daugerdas, tax attorney and CPAPaul M. Daugerdas, 63, a tax attorney and CPA, was sentenced this week to 15 years in prison for orchestrating a massive fraudulent tax. The Department of Justice says Daugerdas and his co-conspirators, including five former partners at BDO Seidman, generated more than $7 billion in phony tax losses for clients. Daugerdas, who received $95 million in fees, used the same shelters to pay only $8,000 in taxes. Forfeited assets and restitution payments will cost him than $535 million.

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