Peter Cinquegrani, a former Arnold & Porter partner, dodged the jail time bullet and was sentenced to only three years probation. He had previously pled to Klein conspiracy and tax evasion. His activity drawing the angst of the Government involved various shelters, including some promoted by Ernst & Young.
Here are some of the quotes attributed to Cinquegrani at the sentencing hearing from the various services cited below:
"I know what I did was wrong."
"I know what I did was wrong, and I did it anyway."
"When you break it down, I helped people cheat on their taxes."
"I helped people cheat on their taxes,"
In justification of the light sentence, the Judge Stein cited Cinquegrani's cooperation with the Government, including explaining the PICO shelter to investigators. Got that concept -- if you are going to cheat, do it in a complex way so that, if you are caught, you can help the Government and mitigate the sentence.
Sources:
Reuters
Business Week
JD Journal
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