
Getty Images/Bloomberg
Olen Properties founder Igor Olenicoff
Igor Olenicoff’s Olen Properties owns about 7.5M SF of office space and 10,000 residential units across four states.
In 2007, Olenicoff pleaded guilty to felony tax fraud. He lied about $200M that he kept out of the country for many years. Olenicoff was made to pay $52M in back taxes and assorted fees. He avoided serving any jail time through a plea deal that was described in retrospect by his attorney as “the gift of the century.” He later sued UBS, claiming the firm had mismanaged his investments, but the case was tossed in 2012. — Scott Klocksin
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