NAMES IN THE NEWS : Gerald Wallace Fined for Taxes
Gerald Wallace, younger brother of former Alabama Gov. George C. Wallace, was fined $100,000 today and given a suspended two-year prison sentence for income tax evasion. He also was placed on five years’ probation.
Wallace, 68, a once-influential lawyer who is suffering from cancer, pleaded guilty in October to two counts of failing to report $165,195 in federal taxes for 1984 and 1985.
U.S. District Judge Joel Dubina ordered Wallace to pay the first $20,000 of the fine by the end of March and the rest within five years, though he doubted that Wallace would be able to repay the full amount.
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