TaxCorporate TaxEx-KPMG adviser pleads guilty in tax shelter case

Ex-KPMG adviser pleads guilty in tax shelter case

Former KPMG employee's guilty plea has implicated former colleagues

The US tax fraud case involving former KPMG employees has taken a surprising
turn, as one of the five remaining defendants has now pleaded guilty and agreed
to co-operate with state prosecutors.

David Amir Makov, who
pleaded
guilty
yesterday to a count of conspiracy to commit tax fraud, read a
statement in a Manhattan federal court implicating three other defendants John
Larson, Robert Pfaff and R.J. Ruble.

Makov was due to be on trial with the others next month over
charges that they participated in a
scheme which assisted wealthy clients in avoiding billions in tax, the Wall
Street Journal
reported.

The 41-year-old worked with Lasson and Pfaff at the firm’s advisory services
division.

State prosecutors have brought a case claiming this division earned fees by
helping the firm’s executives sell bogus tax shelters.

Ruble is a former law partner at Sidley Austin LLP, which allegedly provided
letters of assurance that falsely legitimised the tax shelters.

As part of his plea, Makov will pay a $10m forfeiture and faces a maximum of
five years in prison.

Further reading:

Defendant
in KPMG Tax Case Pleads Guilty, Agrees to Cooperate

Judge kicks outs case against 13 ex-KPMG executives

Memo reveals KPMG feared total US collapse

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson