On Thursday, the investigation of fraudulent tax shelters at Ernst & Young and elsewhere snagged another Am Law 200 casualty, while there is speculation about whether two more lawyers face indictments. Former Arnold & Porter partner Peter Cinquegrani pleaded guilty to tax fraud charges in a deal that caps his potential prison sentence at five years. Meanwhile, several sources close to the case are waiting to see if the Justice Department indicts two other lawyers, Paul Daugerdas and R. Brent Clifton.
Will More Lawyers Be Indicted Over Alleged Ernst & Young Tax Shelter Fraud?
The American Lawyer
September 16, 2008