2 Ex-E&Y Attys' Tax Shelter Convictions Reversed By 2nd Circ.

Law360, New York (November 29, 2012, 6:15 PM EST) -- The Second Circuit on Thursday reversed the convictions of two former Ernst & Young LLP tax attorneys and affirmed the lower court's convictions of two others in a 2009 trial over tax shelters the accounting giant had devised.

A three-judge panel agreed with arguments from Martin Nissenbaum and Richard Shapiro that the evidence used against them was not substantial enough for a conviction on conspiracy charges. The two men had been sentenced in January 2010 to 30 months and 28 months in prison, respectively.

The other...
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