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cost of a movie for the purpose of computing losses for 1976 and
later years.
Petitioner was the business and transactional lawyer for
some of the partnerships, but respondent now concedes that he did
not receive any of the skim money resulting from the inflated
prices. In this respect, his position differs from that of his
three coconspirators, who conceded the receipt of unreported
income from skim money, and fraud additions, for some of their
taxable years.
On November 8, 1982, following a 12-week jury trial in the
U.S. District Court for the Southern District of New York, in
which the defendants were petitioner and his three
coconspirators, petitioner was convicted of (1) one count of
conspiracy to defraud the United States in violation of 18 U.S.C.
sec. 371 (1994); (2) thirteen counts of mail fraud in violation
of 18 U.S.C. sec. 1341 (1994); (3) twenty-nine counts of aiding
and assisting in the preparation of false tax returns in
violation of section 7206(2); and (4) one count of knowingly
making and subscribing a false and fraudulent personal income tax
return in violation of section 7206(1).2 The indictment alleged,
2The charges were summarized by the court that confirmed
petitioner's disbarment as a New York attorney. In re Wagner,
485 N.Y.S.2d 278 (N.Y. App. Div. 1985). That court also made
reference to the criminal proceeding, United States v. Glantz, 82
Cr. 162 (S.D.N.Y.), in the subsequent securities case, Zola v.
Gordon, No. 86 Civ. 4790, 1993 WL 247821 (S.D.N.Y., June 30,
(continued...)
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