Ex-NYC lawyer admits tax evasion in banking scheme

NEW YORK – A disbarred New York City lawyer has agreed to pay nearly $10 million in penalties for his part in a Swiss banking scheme.

The New York Post reports that Kenneth Heller acknowledged in federal court Monday that he didn't pay "a substantial amount of taxes" from 2006 through 2008. He said he knew his actions were unlawful and asked to apologize to the court.

His plea deal calls for up to 37 months in prison.

Heller was charged with evading more than $2.3 million in federal income taxes on $26.4 million that prosecutors say he stashed in overseas accounts at banking giant UBS.

Six others have been charged in the scheme to conceal more than $100 million in Swiss-based assets. Two have pleaded guilty, and two have pleaded not guilty.

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Information from: New York Post, http://www.nypost.com