Prosecutors maintain that two former executives of Big Four firm KPMG should be sentenced as much as 24 years in prison for their part in marketing illegal tax shelters.
In December, former KPMG tax partner Robert Pfaff and former senior tax manager John Larson were convicted along with Raymond Ruble, a former partner in the law firm of Sidley Austin, of tax evasion through a shelter product known as BLIPS. Pfaff and Larson were convicted on 12 counts of tax evasion and Ruble of 10 counts.
Government prosecutors argued that both Larson and Pfaff should face between 19 to 24 years in prison and Ruble between 15 and 19.
The trio are scheduled to be sentenced April 1 by U.S. District Judge Lewis Kaplan.
KPMG itself was not a defendant in the trial, but later agreed to pay $456 million as part of a tax shelter settlement and agreed to be overseen by a government-appointed monitor for one year.
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