Ex-Jenkens & Gilchrist Boss Gets 15 Years For $7B Tax Fraud

By Max Stendahl (June 25, 2014, 4:25 PM EDT) -- Paul Daugerdas, the former head of Jenkens & Gilchrist PC's Chicago office, was sentenced in New York federal court on Wednesday to 15 years in prison on charges he orchestrated a $7 billion tax fraud scheme that prosecutors have called the largest in U.S. history.

U.S. District Judge William Pauley delivered the sentence during a Manhattan court hearing. The judge also ordered Daugerdas to pay $164.7 million in forfeiture and $371 million in restitution. Prosecutors had requested a punishment of at least 20 years in prison, while Daugerdas argued he should serve no more than 30 months.

Judge Pauley said Daugerdas,...

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