British attorney held on $2M bail on NY tax charge

A British attorney has been ordered held on $2 million bail in New York after his arrest on charges he advised the family of a former top Fidelity Investments executive how to dodge U.S. taxes by hiding millions of dollars overseas.

Michael Little was to be held overnight after a federal magistrate judge in Manhattan ordered bail secured by at least $1 million in cash or property.

Little was accused of defrauding the Internal Revenue Service by hiding at least $10 million overseas in Swiss bank accounts and elsewhere. He was arrested Thursday night as he arrived at Kennedy International Airport on a flight from London, where he lives with his wife and children.

Prosecutors described him as a risk of flight. His lawyer says he is not.