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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