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August 29, 2005

The KPMG settlement has been approved by a federal judge. The Justice Department then announced the indictment of seven former KPMG partners on tax charges. A KPMG former senior manager and a non-KPMG attorney were also indicted.

Tax Analysts reports the following were indicted on tax conspiracy charges:

Jeffrey Stein, former deputy chairman of KPMG, former vice chairman of KPMG in charge of tax;

John Lanning, former vice chairman of KPMG in charge of tax

Richard Smith, former vice chairman of KPMG in charge of tax, a former leader of KPMG’s Washington National Tax;

Jeffrey Eischeid, former head of KPMG’s innovative strategies group and its personal financial planning group;

Philip Wiesner, former partner-in-charge of KPMG’s Washington National Tax office;

Mark Watson, a former KPMG tax partner in its Washington National Tax office.

Robert Pfaff.

Also indicted were John Larson, a former KPMG senior tax manager, and Raymond J. Ruble, a former tax partner in the New York office of a prominent national law firm.


KPMG Statement

New York Times: U.S. Indicts 8 Ex-KPMG Employees of Sales of Tax Shelters.

Transcript of Attorney General remarks at press conference on KPMG case. KPMG to pay $456M to settle tax-shelter charges

UPDATE: Copy of Indictment (pdf)

And the TaxProf has a comprehensive set of links to KPMG settlement documents.

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