Convicted Raider Bilzerian Loses Bid for $8 Million Tax Refund

Convicted corporate raider Paul A. Bilzerian isn’t entitled to an $8.2 million tax refund because he hasn’t shown a right to the money that was knowingly acquired via fraud, an appeals court said Monday.

Bilzerian, the former chairman of Singer Co., was convicted in 1989 of securities fraud, conspiracy and making false statements to the Securities and Exchange Commission in the purchase and sale of common stock made in 1985 and 1986, and was ordered by the U.S. District Court for the Southern District of New York to repay more $62 million made from the scheme.

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