Earlier Guilty Plea for Tax Evasion Precludes $250M Civil Challenge

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A telecommunications entrepreneur may not contest civil fraud proceedings charging that income received from a foreign corporation he controlled was taxable to him in 1998 and 1999 based on his tax evasion conviction for about $250 million in deficiencies and penalties in those years, the Third Circuit holds. Walter Anderson was charged in 2005 with federal tax evasion, with the Justice Department and IRS alleging that the indictment was the largest lodged against an individual in history.