2 former Ernst & Young partners sentenced in NY to more than 2 1/2 years in prison
By APThursday, January 21, 2010
2 ex-Ernst & Young partners sentenced to prison
NEW YORK — Two ex-partners of the accounting firm Ernst & Young each have been sentenced in New York to more than 1 1/2 years in prison, the second set of former partners of the firm to be sentenced in as many days.
Richard Shapiro and Brian Vaughn were sentenced Friday in federal court in Manhattan. Shapiro was sent to prison for two years and four months while Vaughn received a 1-year-and-8-months prison term.
They were among four defendants convicted last May of conspiracy in the design, marketing and implementation of tax shelters sold by Ernst & Young. Two others were sentenced Thursday.
The government said the tax shelters generated billions of dollars in paper tax losses that were used to offset actual income.
