Doctor Edward Picardi was convicted in federal court on Friday. A jury found Picardi guilty of five counts of tax evasion, five counts of making false statements on his tax returns, related to failure to disclose offshore accounts and three counts of failing to file required reports with the U.S. Treasury Department. The U.S. Attorney's Office says Picardi passed his earnings through a web of entities organized under the laws of Ireland, Hungary, Cyprus, Isle of Man, Jersey and Guernsey, finally ending up in the name of a corporation set up for him in the Caribbean island of Nevis. The Attorney's Office says Picardi used those transactions to hide his income and evade more than $1 million in taxes.

Jack Caudill