Former Quellos Group investment firm chief executive Jeffrey Greenstein and tax attorney Charles H. Wilk pleaded guilty Friday to federal charges stemming from an illegal tax shelter that enabled wealthy clients, including philanthropist Robert Wood Johnson IV and Hollywood mogul Haim Saban, to avoid paying taxes on $1.3 billion in capital gains. Greenstein and Wilk agreed to pay the IRS $7 million in penalties, plus $400,000 to cover prosecution costs, and to give speeches at their graduate schools about business ethics.
September 13, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Two Seattle-area men pleaded guilty Friday to federal charges stemming from an illegal tax shelter that enabled wealthy clients — including philanthropist Robert Wood Johnson IV and Egyptian-born Hollywood mogul Haim Saban — to avoid paying taxes on $1.3 billion in capital gains.
The men ran an investment firm called Quellos Group LLC. Jeffrey Greenstein, 48, was its chief executive and Charles H. Wilk, 51, was its tax attorney.
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