Millionaire Gets New Tax Trial

Millionaire industrialist Victor Posner was granted a new trial today on his income tax evasion conviction. U.S. District Judge Eugene P. Spellman, in ordering the retrial, lashed out at jurors for not informing him of prejudicial information they were exposed to during the trial, including newspaper accounts.

Posner, 67, one of the highest paid executives in the country, had faced 40 years in federal prison for his July 18 conviction of evading $1.2 million in taxes by overvaluing 22 acres of land he donated to Miami Christian College in the late 1970s.