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
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
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.
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