Fla. Exec Cleared In $200M Corporate Tax Fraud Scheme

Law360, New York (October 29, 2015, 3:48 PM EDT) -- An ex-managing director at corporate acquisition business MidCoast Financial Inc. was found not guilty by a Pennsylvania federal jury on Wednesday over his alleged involvement in a complex $200 million corporate tax fraud scheme.

Donald Stevenson of North Palm Beach, Fla., 58, was cleared after a six-day trial on charges that he conspired to defraud the U.S. and corruptly endeavored to obstruct and impede the due administration of Internal Revenue Service laws. Stevenson, the only defendant to be acquitted in the scheme, faced 8 years in prison.

Stevenson's attorney, Michael Bachner of Bachner & Associates PC, told Law360 on Thursday that...

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