Actor Wesley Snipes was acquitted Friday of tax fraud and conspiracy felony charges, but found guilty on three misdemeanor charges of failing to file a tax return. Snipes could still face up to three years in prison and is presently awaiting sentencing.
Snipes was indicted in October 2006 when the government alleged that he had tried to defraud the Internal Revenue Service (IRS) by filing false tax returns for 1996 and 1997 amounting to $11.4 million in refunds. The IRS also contended that the actor didn't file tax returns for 1999 through 2004.
His co-defendants, a Florida tax protester and an accountant hired by Snipes as a consultant, were convicted of tax fraud and conspiracy.