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.
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.
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.