Former Jenkens & Gilchrist shareholders Paul Daugerdas and Donna Guerin of Chicago were found guilty by a federal jury on multiple counts for their role in a massive, illegal tax shelter plan.
That May 24 verdict is of great interest to other former shareholders in Jenkens, the Dallas firm that closed in 2007, after negotiating a nonprosecution cooperation agreement with the U.S. Attorney’s Office for the Southern District of New York related to the firm’s alleged tax violations linked to the Chicago-based tax-shelter practice. The firm also negotiated a civil settlement with the Internal Revenue Service and agreed it was subject to a $76 million penalty. The exact amount the firm had to pay was not disclosed . [See "Taxing Times for Three Former Jenkens & Gilchrist Shareholders," Texas Lawyer , June 21, 2010, page 3.]
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