Diamond Mogul’s Estate Settles Tax Fraud Claims for $104 Million

The estate of a diamond mogul agreed to pay about $104 million in a tax fraud and evasion case, according to New York federal court filings.

Two children of Chaim Lax, who serve as executors of his estate and trustees of associated trusts, agreed to pay about $63 million for unpaid federal income and estate taxes, plus additional interest, according to a stipulation filed Monday to the US District Court for the Eastern District of New York.

• Zlaty Schwartz, and Moshe Lax are also required to pay about $41 million for fraudulent transfers related to the Chaim Lax Family Trust ...