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.

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