U.S. District Judge Harry Leinenweber who handed the judgement on Wednesday said Stern’s scheme not only defrauded the IRS out of millions of dollars in tax revenue but also financially damaged victims like former New England Patriots and Baltimore Ravens linebacker Adalius Thomas.
Gary Stern, a former
Chicago attorney has been sentenced to 18 months in prison for arranging a tax
fraud scheme that impacted on the finances of several National Football League
players.
According to Fox News,
Thomas told the court his credit has been so ruined by Stern’s schemes that he
can’t lease a car.
Before being sentenced, the
58-year-old Stern wept as he apologised to his family and victims.
Stern pleaded guilty last
year to funnelling renewable energy tax credits through multiple business
entities for wealthy clients to claim at least nearly $5 million in tax
credits.
Nearly 20 current and
former NFL stars lost money as part of the fraud.
NAN
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