Wall Street Group Reported Linked to Tax Fraud Charges: Sensation Expected
The Government is preparing criminal tax-fraud cases against at-least a dozen stock market figures. A prominent Wall Streeter closely identified with the New York Stock Exchange is understood to he among'those involved.</br></br>It was learned yesterday that a tentative decision has been made to present the most sensational case, the one involving the man with Stock Exchange ties, to a Federal grand jury in New York this week.</br></br>The Û¢ present timetable is subject to approval at a special conference of Federal prose-.cutors today.</br></br>Well-posted sources said that -if the case reaches the courts, it might be the most sensational criminal prosecution of a Wall Street personality since Richard Whitney, former president of the New York Stock Exchange, was jailed for grand larceny in 1938.</br></br>The Internal Revenue' Service and the Justice Department began work on the case many months ago. It was understood the two agencies will claim that the taxpayer did not report his full income and inflated tax deductions claimed for business expenses and contributions to charities.