Pursuits
Oil Investor Zukerman Pleads Guilty in Tax Evasion Case
- Prosecutors said he failed to report profits from company sale
- Ex-Morgan Stanley exec collected paintings, loaned art to Met
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Oil-industry investor Morris Zukerman faces more than seven years in prison after pleading guilty to federal charges of evading more than $40 million in taxes.
Zukerman’s plea comes just a month after prosecutors accused the 72-year-old of aggressively seeking to evade taxes beginning in 2007, falsely claiming millions of dollars in deductions and providing false information for IRS audits. He admitted to failing to report $28 million in profits from the sale of an oil company and repeatedly lying to his accountants -- in one instance creating backdated documents to support his claim.