The KPMG tax fraud fiasco has finally come to an end, the Wall Street Journal reports:
A jury convicted two former KPMG LLP executives and a lawyer on tax-evasion charges in a case once billed as the largest tax-shelter fraud case in U.S. history.
After a two-month trial, the jury of nine women and three men found former KPMG tax partner Robert Pfaff, former KPMG senior tax manager John Larson and former Brown & Wood lawyer Raymond J. Ruble guilty on multiple counts of tax evasion.
Here’s what Joe Kristan of Tax Updates Blog says,
Thus ends the big KPMG tax shelter case that resulted in the forced divestiture of much of KPMG’s business, the embarrassment to the Government of the dismissal of charges against 13 defendants, and changes in the way white-collar prosecutions are to be handled.
The case is probably not over for good as I expect that the guilty defendants will appeal the verdicts.
Other Posts about the KPMG Fraud Case:
KPMG Tax Fraud Case: Closing Arguments Made, Jury Deliberations Begin
KPMG Tax Fraud Trial and the Magical Tax Elimination Machine
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