Former Owner Of Studio 54 Ian Schrager Granted Presidential Pardon

MIDTOWN MANHATTAN, NY — Ian Schrager, former owner of famed 1970s nightclub Studio 54, was granted a presidential pardon for a tax evasion sentence stemming from 1980, according to the White House.

The nightclub owner was sentenced to 20 months in prison and five years probation and paid a fine of $20,000 after pleading guilty to federal tax evasion. The tax evasion charges stemmed from false income tax returns filed in 1977 and 1978, according to a White House briefing. Schrager and business partner Steve Rubell bought Studio 54 in 1977 from CBS and converted the space from a television studio into a nightclub. During its heyday the club attracted celebrity revelers such as Elton John and Andy Warhol.

Schrager thanked President Barack Obama for granting him a pardon.

"I am deeply grateful to President Obama for this act of compassion and forgiveness. It is very humbling. I have been trying to lead a good and productive life since the mistake I made over 35 years ago," Schrager told Patch in a statement. "I would like to thank my wonderful family, especially my wife and kids, and my friends for their incredible support and love, as well as, the career officials at the US Pardon Attorney office for the work they have done on my application over the past number of years. It is gratifying to finally have closure."

The nightlife pioneer was one of 64 people pardoned Tuesday by Obama. Obama also commuted the sentence of 209 individuals — most serving non-violent drug sentences — on Tuesday.

Today Schrager operates the Ian Schrager Company, which "owns, develops, manages and brands hotels, residential and mixed use projects," according to its website.

Photo by Broadway Tour via Flickr/Creative Commons