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New York Secures $105 Million Dollars from Hedge Fund Manager’s Tax Fraud

Earlier this week, New York Attorney General Letitia James issued a press release announcing that the State and City of New York recovered $105 million dollars in owed taxes and damages under New York’s false claims act tax fraud statute from Thomas Sandell, his hedge fund company Sandell Asset Management Corporation (SAMC), and SAMC Partners LC.

Sandall owed over $50 million dollars in taxes from over $450 million dollars in fees earned in 2017. The taxes were due in December 2017 as a result of a change in the deferred management and performance fee rule in 2008.

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