A federal jury has convicted six defendants in a $60 million nationwide tax fraud conspiracy.
According to the Justice Department, the six participated in a nearly decade-long scheme to sell fake domestic and foreign trusts through the now-defunct Aegis Co. The defendants allegedly diverted income from businesses into sham trusts for about 650 clients while hiding hundreds of millions of dollars of income. The Justice Department claimed the scheme resulted in a $60 million tax loss for the federal government.
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