NEW YORK: A billionaire hedge fund manager has paid US$105mil to New York, the biggest fine of its kind in the state, after being accused of dodging tax liability in 2017 on hundreds of millions of dollars in deferred investment fees.
Thomas Sandell and his activist firm, Sandell Asset Management Corp, failed to pay state and city taxes on US$450mil in management and performance fees from a decade’s worth of work in New York City, New York attorney general Letitia James said in a statement.
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