US Ernst & Young partners charged with tax fraud
After a grand jury decision yesterday four current and former Ernst & Young (E&Y) partners have been charged by federal prosecutors for conspiracy to commit tax fraud. They are alleged to have disguised illegal tax shelters for top-end clients as profit-generating investments. Rob Lewis reports.
The individuals were named as Robert Coplan (a one-time IRS employee), Martin Nissenbaum, Richard Shapiro and Brian Vaughn. All four had worked for the ominously titled E&Y group VIPER, or Value Ideas Produce Extraordinary Results.
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Anti Social Practices of Major Firms
One wonders how deep are the anti-social practices in major accountancy firms. By a coincidence I had an article on The Guardian website yesterday drawing attention to the involvement of major firms in money laundering, tax evasion, bribery, corrpution and other anti-social activities.
http://commentisfree.guardian.co.uk/prem_sikka_/2007/05/raw_dealing.html
Deep surgery is uregently needed.
Ernst & Young
AABA website is a carrying more details.
http://visar.csustan.edu/aaba/auditingpage.html
The press release by the US Department of Justice is also very revealing
( http://www.usdoj.gov/usao/nys/pressreleases/May07/eyindictmentpr.pdf)
The press release identifies one of accused as
ROBERT COPLAN, 54, of Plano, Texas, a former E&Y tax partner who was the leader of the VIPER/SISG group, and the former National Director of E&Y’s Center for Wealth Planning. Mr. COPLAN, a lawyer, was at one time a Branch Chief in the IRS’ Legislation and Regulations Division.
This person appears to be the co-author of "Ernst and Young's Personal Financial Planning Guide" which was promoted as the best buy. The blurb about the book says "Take Control of Your Future and Unlock the Door to Financial Security".