TAX NEWS - June 2010

Wisconsin Tax: Ex-MCW Dept. Chair Will Plead Guilty to Tax Evasion

MILWAUKEE, Wis. (WTAQ) - A former department chairman at the Medical College of Wisconsin will plead guilty in a few weeks to federal tax evasion. His attorney says Leon Cass Terry of Whitefish Bay will admit under-reporting his income by almost a half-million dollars in a 3-year period ending in 2005.

Authorities said he avoided paying $170,000 in federal income taxes during those years. The lawyer said Terry wants to get on with his life. And to try and reduce his sentence, he has agreed to cooperate with a grand jury probe involving the wrongful distribution of human growth hormone. That case is reportedly from Connecticut.

Court records said Terry made up to $8,000 a month as a consultant for Nexos Therapeuticals of Miami – and he was the company's chief medical officer from 2003 through '07. Among other things, officials said Terry reviewed patient records to see if they could get prescriptions for human growth hormone. Terry was a neurology professor at the Medical College in Wauwatosa from 1989 to 2003. And he chaired the neurology department from '89 through 2000.