Igor Olenicoff, a billionaire industrial and commercial property developer, has pleaded guilty to filing a false 2002 tax return and paid $52 million in back taxes and penalties in an effort to stay out of jail.

The 65-year-old faces the possibility of three years in prison and is scheduled for sentencing in April. His wealth is estimated at $1.7 billion by Forbes magazine, which includes him on its Forbes 400 list at No. 286.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access