A real estate developer who promoted green tax breaks was sentenced to 25 years in prison Tuesday for selling $1.4 billion in fraudulent charitable deductions to wealthy investors and cheating the IRS out of $458 million in taxes.
Jack Fisher, 71, pioneered an industry that gave inflated tax deductions to syndicates of investors who promised not to develop land. Prosecutors argued at a two-month trial that Fisher used exaggerated appraisals and backdated documents to try to fool the Internal Revenue Service. He earned tens of millions of dollars, buying houses, an airplane and real estate.
US District Judge
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.