Menachem E. Lifshitz, a former name partner at Bernstein, Liebhard & Lifshitz, pleaded guilty to a felony charge of falsifying his 2005 income tax return and paid $4.8 million in back taxes and interest Thursday.
In exchange for the guilty plea and payment, Lifshitz will not receive any jail time but has agreed to resign from the bar.
He pleaded guilty to filing a false tax return, a Class E felony carrying a maximum term of 1 1/3 to 4 years.
His arrest resulted from an ongoing probe into the use of charitable organizations for tax fraud, according to the Manhattan district attorney's office. Prosecutors said Lifshitz had overstated his expenses and contributions.
Lifshitz' attorney, Benjamin Brafman, said the case involved a "personal tax issue" and did not relate to his work at his firm or for any of its clients.
Lifshitz' resignation from the firm took effect Friday, according to Brafman.
