TaxAdministrationEx-Morgan Stanley analyst jailed for tax fraud

Ex-Morgan Stanley analyst jailed for tax fraud

A former investment banking analyst working for Morgan Stanley in the UK faces up to 4½ years’ jail for grand larceny

We Jin Shon, 25, a Canadian who worked for
Morgan Stanley
in the UK as an investment banking analyst, has been sentenced to 1½ to 4½ years
in prison for stealing more than $US572,000 (?276,500) from the US state tax
department and trying to steal another $US4.64m by filing for bogus tax refunds.

Shon, who pleaded guilty on Tuesday to grand larceny and attempted grand
larceny, was also ordered to repay the
New York State Department
of Taxation and Finance
$US282,863, Associated Press reports.

Barbara Thompson, a spokeswoman for the Manhattan district attorney’s office,
said Shon tried to get refunds totalling $US5.2m by electronically filing 30
false state personal income tax returns from March 18 through April 27.

Samuel Gregory, Shon’s lawyer, said his client was a young man ‘who got
himself in debt in amounts he was incapable of paying and made a terrible
mistake’.

Further reading:

US tax officials nabbed in $US16m scam

KPMG US tax shelter case postponed

Read
story in The Montely Fool

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