RegulationAccounting StandardsUS advisor pleads guilty in E&Y tax shelter case

US advisor pleads guilty in E&Y tax shelter case

Guilty plea for advisor embroiled in Ernst & Young illegal tax shelter dispute

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

Further Reading:

US
prosecutors widen E&Y tax-shelter case

Former
GlobeTel CFO charged with tax evasion

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