$1.4M Price Cut On Wilmette Lakefront Mansion Of CEO Charged In 'Largest Criminal Tax Fraud In History'

WILMETTE, IL — One of about two dozen Wilmette properties situated directly on Lake Michigan, this five-bedroom, English-style home was formerly owned by an accounting CEO who was in charge during what prosecutors described as the biggest tax fraud case in American history.

The massive house features a limestone facade and includes an elevator, a sauna, an exercise room, game room, office, wet bar and a movie theater. It also comes with a three-car heated garage and stone pathway down to a boat launch.

» Check out more photos of 15 Linden Avenue from Realtor.com

According to property records, 15 Linden Ave. was formerly owned by Denis M. Field. He was the CEO of BDO (then called BDO Seidman) while it helped rich clients duck more than billion dollars in taxes. Field's conviction was eventually thrown out after a juror was found to have lied during jury selection. He was acquitted during a second trial. Several others involved in the scheme pleaded guilty, and BDO admitted to criminal wrongdoing and paid $50 million to settle the charges.

The property's current owner bought the house in cash through a trust, according to listing agent Jena Radnay of @properties. Address listings indicate the most recent residents are Oksana Mindyuk Malysheva and Mikhail Malysheva, the former head of high frequency trading for hedge fund Citadel who went on to found Teza Technologies.

This month, the asking price for this massive lakefront estate dropped a second time. It has now fallen more than $2.4 million since being listed in 2015 for $10.9 million.

At a listed price of $8.5 million, the current owner is now asking for less than its $8.84 million assessed value. Is the price finally right or will it drop by another million dollars next summer?

» Check out more photos of 15 Linden Avenue from Realtor.com

• Address: 15 Linden Ave, Wilmette, Illinois
• Price: $8,499,000
• Square Feet:
• Bedrooms: 5
• Bathrooms: 6 Full and 2 Half Baths
• Built: 1941
• Features: The ULTIMATE powerhouse lake front home: 15 Linden is the quintessential lake escape set privately down an enchanting lane off Sheridan Rd. With under 25 lake front properties in Wilmette, it's rare to have a home set on almost an acre of secluded land with amazing backdrop views of Baha'i Temple, Sheridan Shores Yacht club, & Wilmette Harbor. Exquisitely landscaped grounds w/ phenomenal table land, patios, and stone paths to the water's edge make this setting is one of a kind. Double atrium foyer w/ sweeping staircase & intricately restored cove molding ceiling set the stage for this timeless stone home. With lake views in virtually every rm, this gracious yet casually elegant home boasts all the "must haves" for today's living: Chef's kitchen open to family w/ mudrm, fully loaded 3rd flr retreat w/office, luxurious master suite, & separate in-law area. Perks: elevator, 4-seasons rm, rare boat launch/storage, LL w/theater rm, & ONLY 25 min to city via scenic Sheridan Rd. Sensational!

This listing originally appeared on realtor.com. For more information and photos, click here.

(This story has been updated to reflect the home's current ownership.)