Texan E&Y employee admits to tax fraud

A former E&Y employee has pleaded guilty to a count of conspiracy to
commit tax fraud.

Belle Six, of Dallas, Texas, was part of an E&Y group formed in 1998 to
implement tax shelters for wealthy clients.

Six participated in a group scheme which set out to deceive tax authorities
about the bona fides of their tax shelters and the circumstances surrounding the
marketing of shelters to E&Y’s clients, InvestmentNews reported.

During her
appearance, Six acknowledged that she and others deliberately concealed
information from the IRS and submitted fraudulent documentation to the tax

She also admitted that she and her co-workers under the scheme took steps to
disguise the transactions.

Six faces a five-year prison sentence.

As part of her plea-agreement with government, she has agreed to forfeit more
than $13m representing her compensation for her tax shelter work.

Further reading:

E&Y sued over failed tax shelters

E&Y may settle tax row out of court

&Y worker pleads guilty to tax fraud

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