David Parse, a former Deutsche Bank accountant, was sentenced to three and a half years in prison for his role in what prosecutors claim is the biggest criminal tax-fraud prosecution in history.
Bloomberg reports that Parse, 51, was convicted in 2011 of mail fraud and obstructing the Internal Revenue Service as part of a scheme to market fraudulent tax shelters that the U.S. said cost the Treasury more than $230m in lost taxes. He was sentenced Friday by U.S. District Judge William Pauley in Manhattan.
'Parse played a central and longstanding role in the criminal scheme', Pauley said before announcing the sentence.
Parse was accused of being a key actor in a fraud that created more than $7bn in illegal tax deductions and benefits. He made $3m in commissions from the fraud, according to the government.
In addition to the prison time, Pauley sentenced Parse to three years of supervised release, $115.7m in restitution and $1m forfeiture.
Prosecutors had urged Pauley to give Parse a similar sentence to the eight-year prison term he handed former Jenkens& Gilchrist lawyer Donna Guerin this month.
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