Wesley Snipes Acquitted of Tax Fraud

(FROM CNN) — A jury found Wesley Snipes not guilty of felony federal tax fraud on Friday, but he was convicted on three misdemeanor counts of failing to file a tax return from 1999-2001. Though he escaped the felony charges, which carried a sentence of up to 16 years in prison, Snipes still faces up to three years for the misdemeanors. Two co-defendants charged along with Snipes in the case, Eddie Ray Kahn, the founder of a tax protest group, and Douglas P. Rosile, an accountant, were convicted by the same jury of tax fraud and conspiracy. The verdicts came after three days of deliberations. (CNN)