Former KPMG Tax Partner says he’s guilty
The trial continues regarding David Rivkin, the former KPMG Tax Partner at the centre of the tax shelter fraud case.
Rivkin has pleaded guilty to conspiracy and tax evasion and signed an agreement with prosecutors indicating a willingness to cooperate. He told US District Judge Kaplan that he "knew that the losses should not have been claimed on the tax forms".
The Department of Justice has called this the largest criminal tax case ever filed and the fraud is estimated to have allowed KPMG’s clients to avoid a total of $2.5 billion in taxes.
Sentencing is some way off – currently set for Feb 2007.