Morial Friend Agrees to Deal in Tax Probe

"New Orleans political consultant William Schultz, a member of former Mayor Marc Morial's inner circle, was charged Tuesday with failing to file federal tax returns for two years during which he made money from companies run by other Morial associates.

Schultz, 57, has agreed to plead guilty to the charges and has paid nearly $187,000 in back taxes as part of a deal with federal prosecutors that requires him to help the government with other investigations, according to U.S. Attorney Jim Letten.

Schultz, for whom the deal proposes a one-year prison term, is accused of not reporting his 2001 and 2002 income to the Internal Revenue Service, including consulting fees he was paid by restaurateur Stan Barre's firm, Pampy's Inc., and Moss Creek Development, a construction company owned by Reginald Walker." |Read more|