The lead defendant in a nationwide $60 million tax fraud conspiracy was sentenced to more than 18 years in prison.

Michael A. Vallone was one of the founders and the executive director of Aegis, a now defunct company that marketed and sold trust packages to approximately 650 wealthy taxpayer clients throughout the country. Vallone and five co-defendants were convicted in May of participating in a nearly decade-long scheme to market and sell sham domestic and foreign trusts through a network of promoters, sub-promoters, managers, attorneys and accountants.

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