Four current and former tax partners at Ernst
& Young have been charged by a US grand jury with tax fraud conspiracy.
The four are alleged to have marketed fraudulent tax shelters to wealthy
clients who would otherwise have owed the IRS
more than $10m (?5m) apiece.
The four charged are former partners Robert Coplan and Brian Vaughn, and
current partner Martin Nissenbaum and Richard Shapiro, who are on administrative
They all worked in a group set up by E&Y in 1998 to develop and sell tax
shelters for the rich, known as
Ideas Produce Extraordinary Results, or Viper.
All are expected to plead not guilty
E&Y said in a statement: ‘The individuals who were indicted . . . were
part of a small group within the firm, disbanded years ago . . . Ernst &
Young has voluntarily made many changes and enhancements to our tax practice.’
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'