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US property tycoon Helmsley dies US property tycoon Helmsley dies
(about 1 hour later)
US property tycoon Leona Helmsley, who famously said "only the little people pay taxes" and later went to jail for tax evasion, has died aged 87.US property tycoon Leona Helmsley, who famously said "only the little people pay taxes" and later went to jail for tax evasion, has died aged 87.
Mrs Helmsley died of heart failure at her summer home in Greenwich, Connecticut, her publicist said.Mrs Helmsley died of heart failure at her summer home in Greenwich, Connecticut, her publicist said.
Mrs Helmsley and her late husband Harry had run a multi-billion dollar real estate business, that included managing New York's Empire State Building. Mrs Helmsley and her late husband Harry had run a multi-billion dollar real estate business that included managing New York's Empire State Building.
In 1992, she was convicted of tax evasion, spending 21 months in prison.In 1992, she was convicted of tax evasion, spending 21 months in prison.
The Helmsleys were accused of listing personal expenses as business expenses to hide income.
A judge ruled that Mr Helmsley was not mentally competent to stand trial, but Mrs Helmsley was convicted of evading $1.2m in taxes.
During the trial, Mrs Helmsley's former housekeeper famously testified that she had heard Mrs Helmsley say: "We don't pay taxes. Only the little people pay taxes."
Mrs Helmsley denied ever saying that.
However, she was noted for her tough management style and became widely known in the US media as "the queen of mean".
Mrs Helmsley, a former model and a real estate agent, married Harry Helmsley, a multi-millionaire real estate investor, in 1972.
Mr Helmsley died in 1997, aged 87, leaving his wife his entire fortune. She is survived by her brother, four grandchildren and 12 great grandchildren.
Forbes magazine ranked her the 369th richest person in the world, with an estimated fortune of $2.5bn.