A judge's decision to impose a $6 million fine on a man convicted in the KPMG tax shelter case has been was vacated by the 2nd Circuit. The circuit said the fine levied against former investment consultant John Larson was $3 million more than the amount set by statute and could not have been imposed without a finding by a jury that Larson caused the requisite amount of pecuniary loss. The decision was the latest in a series by the circuit applying the U.S. Supreme Court's ruling in Apprendi v. New Jersey .
August 31, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A judge’s decision to impose a $6 million fine on a man convicted in the KPMG tax shelter case was vacated by a federal appeals court on Friday.
The 2nd U.S. Circuit Court of Appeals said the fine levied against former investment consultant John Larson was $3 million more than the amount set by statute and could not have been imposed without a finding by a jury that Larson caused the requisite amount of pecuniary loss.
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