The Nation - News from April 30, 1986

A precious metals dealer charged with operating a tax shelter scheme was sentenced in Miami to 62 years in prison, the longest sentence ever for such a crime, according to the Internal Revenue Service. William T. Irwin, 53, also must pay a $67,000 fine. According to testimony and documents presented during the trial, Irwin concocted a fraudulent tax shelter scheme by which investors were swindled out of more than $7 million. The government also charged the investors fraudulently deducted about $42 million as part of the tax shelter scheme.