A Chicago lawyer has pleaded guilty in New York to helping wealthy clients dodge tens of millions of dollars in taxes in what prosecutors have called the largest tax-fraud prosecution in history.
Donna Guerin, whose plot allegedly created $6 billion in phony losses, entered the plea yesterday in Manhattan federal court.
The government says her clients included trust-fund recipients and a man who was one of the first investors in Microsoft Corp.
Guerin admitted helping draft letters to make it seem wealthy clients were investing in legitimate business ventures. She said she knew that many clients were “only interested in reducing tax liabilities.”
Sentencing for the Elmhurst, Ill., resident was set for Jan. 11. She agreed to forfeit $1.6 million.