Paul L. Caron
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Saturday, January 25, 2020

Tenured University of Minnesota Law Prof Sentenced In Tax Fraud Case

Following up on my previous post, University of Minnesota Law Professor Charged In Multi-Million Dollar Corporate Fraud Scheme:  Minneapolis Star-Tribune, University of Minnesota Law Professor Sentenced to Probation For Lying to IRS:

AdamsA federal judge sentenced University of Minnesota financial law professor Ed Adams to two years of probation and $5,000 in fines Thursday for lying to the Internal Revenue Service.

Judge Donovan Frank said Adams deserved a harsher sentence than the one year of probation that prosecutors requested because of his role as a tenured professor who should be setting an example for up-and-coming lawyers.

“You clearly knew more than most that what you were doing was illegal and unethical,” said Frank.

Still, the punishment is much lighter than what Adams could have faced if he had been convicted on the original charges.

A 2017 indictment alleged Adams masterminded a complicated embezzlement scheme that bilked millions from investors through a diamond company he ran. Through a deal with the U.S. Attorney’s Office, Adams pleaded guilty to only a misdemeanor offense last October, and prosecutors dropped 17 other counts.

Adams has been on paid leave from the university, earning $170,820 per year, according to law school spokesman Jake Ricker. The school has not yet decided if Adams will go back to teaching now that his case is finished, said Ricker. ...

Adams has been on paid leave from the university, earning $170,820 per year, according to law school spokesman Jake Ricker. The school has not yet decided if Adams will go back to teaching now that his case is finished, said Ricker.

The plea agreement states that Adams underreported income on his federal taxes from 2008 to 2010, including failing to report the sale of stock in 2008, 2009 and 2010 for a total of $596,000. In an agreement with the IRS in 2015, he paid $118,000 in taxes owed on that income, according to court documents.

The plea agreement states that Adams underreported income on his federal taxes from 2008 to 2010, including failing to report the sale of stock in 2008, 2009 and 2010 for a total of $596,000. In an agreement with the IRS in 2015, he paid $118,000 in taxes owed on that income, according to court documents.

Karen Sloan (Law.com), University of Minnesota Law Prof Sentenced in Tax Fraud Case

https://taxprof.typepad.com/taxprof_blog/2020/01/tenured-university-of-minnesota-law-prof-sentenced-in-tax-fraud-case.html

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Comments

Just add it to the long, long list of unjust sentences, always and forever favoring whites and the well-off. When will we ever learn?

Posted by: Gerald Scorse | Jan 26, 2020 1:45:27 PM