(Bloomberg) Former lawyer Paul Daugerdas was convicted in a retrial for what U.S. prosecutors called the biggest criminal tax fraud in history, while former BDO Seidman Chief Executive Officer Denis Field was acquitted.

The mixed verdict was delivered by a jury last Thursday in Manhattan federal court after deliberations that began Oct. 29. The men were charged with running a 10-year scheme that created $7 billion in fraudulent tax deductions and more than $1 billion in phony losses. Prosecutors claimed the scheme cost the U.S. Treasury $92 million.

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