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Even the IRS makes mistakes.
The Inland Revenue issued a rare apology. A statement was issued Apologizes for thousands of tax documents leaked to the public Between 2018 and 2020, That includes records from billionaire Citadel CEO Ken Griffin, who was directly mentioned in the statement.
The apology is part of a settlement Griffin made with the IRS following a lawsuit he filed in December 2022 over the “unlawful disclosure” of his tax information that was leaked to the public by a contractor.
The IRS said contractor Charles Littlejohn “violated” the terms of his employment by leaking information to the press. The agency added that Littlejohn “betrayed the trust” of Americans, including billionaire Elon Musk.
Related: Read Citadel CEO Ken Griffin’s internal memo about top hedge funds
“The IRS takes its responsibilities seriously and acknowledges that it failed to prevent Mr. Littlejohn’s criminal conduct and Mr. Griffin’s unlawful disclosure of confidential data,” the IRS said. statement“Accordingly, the IRS assures Mr. Griffin and other victims of Mr. Littlejohn’s conduct that it has made significant investments in data security to better protect taxpayer information.”
Hedge fund Citadel LLC founder and CEO Ken Griffin speaks at the Milken Institute Global Conference (Apu Gomez/Getty Images)
Littlejohn was sentenced to five years in prison in January.
The IRS added that it is “making significant investments in data security to better protect taxpayer information.”
Griffins Net Worth With an estimated $42 million, Citadel broke records in 2022, making it the highest-ever hedge fund in a given year. In 2023, Citadel’s total revenue hit $74 billion.
Related: $50 billion tax loophole used by the ultra-rich to be closed
“I want to thank my team for securing an outcome that better protects the American taxpayer and ultimately benefits all Americans,” Griffin said. CBS Money Watch in a statement regarding tax leaks.