Thursday, December 18, 2008

Verdicts in KPMG Related Case

The KPMG related case has had a history like none other (for background see here).  Although nineteen individuals were initially accused, Hon. Lewis Kaplan issued an opinion that dismissed many because of government conduct that placed pressure on the company to withhold payment of attorney fees for employees charged with criminal conduct, when the company's past practice was to pay these fees. This decision was upheld by the Second Circuit Court of Appeals (see here). Two defendants had initially plead guilty, which left four for trial.  The trial of these four individuals has now concluded and press reports on the verdicts are below:

See Ashby Jones, WSJ, Breaking: Jury Convicts Two Ex-KPMGers, One Lawyer on Tax Charges; Mark Hamblett, NYL.J., Former Attorney, Two Others Convicted of KPMG Tax Shelter Charges; Lynnley Browning, NYTimes, 3 Convicted in KPMG Tax Shelter Case.

(esp)

Addendum - Martha Graybow, Reuters, Guardian UK - U.S. jury convicts three in tax shelter trial

http://lawprofessors.typepad.com/whitecollarcrime_blog/2008/12/split-verdict-i.html

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