Frank McCourt Under Federal Investigation For Possible Tax Evasion, Financial Wrongdoing
If you, like us, scratched your head when you realized that recent Dodgers owner Frank McCourt, who got more than $2 billion for the team this spring, had not paid taxes since 2004, maybe there's justice after all.
Magic Johnson and Frank McCourt.
The L.A. Daily Journal today reported (via LA Biz Observed) that McCourt is under federal investigation for possible tax evasion and financial misconduct.
The Los Angeles Times' Bill Shaikin has a similar report today, stating that McCourt has a federal grand jury on his back:
The investigation started early last year and appears to be focused on the accounting and propriety of Dodgers spending, the person said.
The Times piece notes that Major League Baseball had accused McCourt of "looting" $189 million from the team for personal use, a charge he denied.
A McCourt attorney denied to the Journal that he's the target of an investigation.