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Reply #72: SoNY USA = FEDS decline to prosecute Sidley Austin [View All]

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L. Coyote Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-25-07 07:19 PM
Response to Reply #69
72. SoNY USA = FEDS decline to prosecute Sidley Austin

http://www.northcountrygazette.org/news/2007/05/29/law_... /
29 of May , 2007 at 9:38 pm

NEW YORKThe U.S. Attorneys office for the Southern District of New York has decided not to seek criminal charges against the law firm Sidley Austin LLP, the investigation of which arose out of the fraudulent tax shelter and other activities of former Sidley Austin Brown & Wood tax partner Raymond J. Ruble.

U.S. Attorney Michael J. Garcia explained that the decision was reached in accordance with the Department of Justices Principles of Federal Prosecution of Business Organizations.

The decision was predicated on a number of factors, including that Ruble carried out the major part of his alleged fraud, including the provision of fraudulent cookie-cutter opinion letters, and brought in a substantial part of the firms revenues, while a partner at the law firm Brown & Wood. B&W, a New York-based firm, merged in May 2001 with the larger, Chicago-based firm of Sidley & Austin, LLP, forming the firm SABW (which has since changed its name to Sidley Austin). ................

Sidley has acknowledged, through a public statement of responsibility that its role with respect to certain tax shelter transactions wrongly and fraudulently deprived the U.S. Treasury of significant tax revenues, Garcia said. ....
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