"I have many explanations, but no excuses," Sherman said. "I’m taking responsibility for these two offenses and I take it very seriously."
While Sherman has since paid the taxes that led to the criminal charges for tax years 2001 and 2002, prosecutors said he still owes more than $1 million in penalties, interest and for taxes in subsequent years.
During those years Sherman made $120,000 in mortgage payments and bought each of his two children a $27,000 Jeep. He also paid $52,348 in country club fees and $98,774 for his ex-wife's American Express credit card bills as well as deposited $115,123 in her checking account and provided her with $1,000 a week in cash, according to the prosecutor.
Sherman’s attorney, William Dow III, said he did not expect Sherman to lose his law license because the case involved misdemeanor charges and said he was hopeful he would be spared prison time.