US advisor pleads guilty in E&Y tax shelter case

Former investment advisor Charles Bolton has delivered a guilty plea in response to allegations he helped market illegal tax shelters through Ernst & Young's Value Ideas Produce Extraordinary Results unit.

He pleaded guilty to one count of conspiracy and will face up to five years in prison when he is sentenced in April. The scheme involved selling the tax shelters to high net worth individuals.

Bolton was first charged in February last year following almost a decade of involvment in marketing the tax shelters, according to webcpa.com

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