PracticeAccounting FirmsE&Y partners charged with tax fraud conspiracy

E&Y partners charged with tax fraud conspiracy

Current and former partners charged with marketed fraudulent tax shelters to wealthy clients

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
leave.

They all worked in a group set up by E&Y in 1998 to develop and sell tax
shelters for the rich, known as
Value
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.’

Further reading:

US Treasury secretary against collecting more tax

US taxman eyes offshore vehicles

US tax agent charged with tax dodging

Related Articles

haysmacintyre celebrates partner promotion and additional hire

Accounting Firms haysmacintyre celebrates partner promotion and additional hire

15h Lucy Skoulding, Reporter
EY director joins Crowe Clark Whitehill as partner

Accounting Firms EY director joins Crowe Clark Whitehill as partner

5d Emma Smith, Managing Editor
RSM announces growth across every business line in 2017

Accounting Firms RSM announces growth across every business line in 2017

7d Lucy Skoulding, Reporter
WorkStyle: Helping accountants to support new contractors

Accounting Firms WorkStyle: Helping accountants to support new contractors

2w ClearSky Accounting | Sponsored
Grant Thornton grows profits while radically reshaping portfolio

Accounting Firms Grant Thornton grows profits while radically reshaping portfolio

2w Alia Shoaib, Reporter
How to protect LLP firms from a damaging team move

Accounting Firms How to protect LLP firms from a damaging team move

2w Clive Greenwood, Lewis Silkin
Grant Thornton reports gender pay gap at 26.6%

Accounting Firms Grant Thornton reports gender pay gap at 26.6%

4w Alia Shoaib, Reporter
5 ways to adapt your accounting services for millennial clients

Accounting Firms 5 ways to adapt your accounting services for millennial clients

1m Receipt Bank | Sponsored