Yikes! Ex-Hotel Maven Owes $105M in Tax Fraud
Updated 7:14 PM EST, Fri, Nov 21, 2008
A former executive of a New York company that ran dozens of Days Inn hotels has pleaded guilty to tax fraud and agreed to pay $105 million.
Federal prosecutors in Manhattan announced Friday that Stanley Tollman entered the plea via video link from London. The 78-year-old was immediately sentenced to one day of probation.
He agreed to pay $60.3 million in restitution to the Internal Revenue Service and $44.7 million to settle a civil forfeiture action arising from the multimillion-dollar tax evasion scheme.
Prosecutors say English courts ruled against extraditing Tollman earlier this year because of his wife's poor health.
Tollman was a principal in Tollman-Hundley Hotels, which owned and managed more than 50 Days Inn hotels nationwide.
Copyright Associated Press
First Published: Nov 21, 2008 5:28 PM EST
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