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KPMG defendants sentenced
April 02, 2009
The defendants who were dropped from the KPMG tax shelter prosecution might feel that they dodged a bullet today after seeing the sentences imposed yesterday on the remaining defendants. The New York Times reports:
John Larson, a former senior tax manager, was sentenced to more than 10 years and ordered to pay a fine of $6 million by Judge Lewis A. Kaplan in United States District Court in Manhattan.Robert Pfaff, a former tax partner at KPMG, was sentenced to more than eight years and fined $3 million.
A third person convicted in the case, Raymond J. Ruble, a former partner at the law firm Sidley Austin, was sentenced to six years and six months.
Thirteen defendants were excused from the case because of the efforts of the Justice Department to keep KPMG from paying their legal fees. KPMG itself was not prosecuted, but had to shed chunks of its tax practice as part of its deferred prosecution agreement.
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