A South Florida lawyer is headed to prison for 2.5 years for evading $1.5 million in federal income taxes by hiding numerous assets and sources of income.
A federal judge imposed the sentence Wednesday on 62-year-old William J. Reilly of Boca Raton. Reilly previously pleaded guilty to a tax evasion charge.
Internal Revenue Service officials say Reilly evaded taxes beginning in 1997 and continued until 2007. Evidence shows Reilly used shell corporations and other means to disguise his income and assets, including two homes in Boca Raton, a residence in Vermont and oceanfront property in Rhode Island.
Reilly will be on probation for three years after his prison release and also owes $1.9 million in restitution to the government.
Reilly practiced securities law in New York and Florida.
