Former Chicago Bank One Supervisor Convicted of Tax, Wire Fraud Conspiracy

A Chicago attorney and certified public accountant was found guilty in the U.S. District Court for the Southern District of New York June 3 of wire and tax fraud conspiracy charges stemming from a scheme to fraudulently obtain referral fees related to a tax shelter sold by Bank One, the Justice Department announced (United States v. Ohle).

John B. Ohle III served as a supervisor in Bank One’s Innovative Strategies Group, which provided estate planning and tax shelter strategies for high net worth clients. According to DOJ, Ohle assisted in designing the “Hedge Option Monetization of Economic Remainder” ...