One of the defendants in a $60 million trust tax scheme has been sentenced to more than 13 years in prison.
William Cover, 72, was one of the managers at Aegis, a company that marketed and sold domestic and foreign trust packages to approximately 650 wealthy taxpayer clients to help them hide income from the IRS. Another leader in the scheme, Michael A. Vallone, was sentenced earlier this month to more than 18 years in prison (see Tax Shelter Leader Gets 223 Months in Jail).
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