Former Kirkland & Ellis Partner Theodore Freedman has been criminally charged with underreporting his taxes by more than $2 million, the Wall Street Journal reports.
Federal prosecutors say Freedman, 63, falsely claimed to own his own law practice when in fact he was a senior partner at Kirkland. Freedman allegedly earned roughly $5.4 million between 2001 and 2004 while employed at Kirkland as a bankruptcy and restructuring partner, but he only reported about $3.3 million in revenue and falsely claimed expenses amounting to more than half a million dollars for his made-up law practice.
Freedman, who retired from Kirkland in October 2010, could face up to three years in prison for each of the four false-filing counts he is charged with. Freedman pleaded not guilty to the charges at a court hearing on Thursday.