Former KPMG LLP senior manager John Larson was sentenced to 10 years in prison and former partner Robert Pfaff got eight years for selling illegal shelters that helped wealthy clients evade more than $100 million in taxes.
Larson was also fined $6 million yesterday in Manhattan federal court, Pfaff was fined $3 million and both were immediately jailed. Lawyer Raymond Ruble, a former partner at Brown & Wood LLP, was given a 6 1/2-year sentence. The three were convicted on Dec. 17 of tax fraud and other charges.
The convictions, which the defendants said they will appeal, came in a case that narrowed significantly since 2005, when it began as the largest tax-shelter prosecution in U.S. history. The government initially accused 17 ex-KPMG executives, including former Deputy Chairman Jeffrey Stein, and several others of selling shelters that cost the Treasury $2 billion.
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