L.A. Tax Lawyer Sentenced in Hollywood Kickback, Tax Evasion Case

Following up on my prior post, L.A. Tax Lawyer Pleads Guilty to Tax Evasion in Hollywood Kickback Scheme (Dec. 14, 2009): New York Times, $23 Million Payout to I.R.S. in Hollywood Plea Deal:

As the criminal case against the former Hollywood tax lawyer Matthew Krane heads to a conclusion — Mr. Krane is to be sentenced after pleading guilty to tax evasion and making a false statement on a passport application — the Treasury Department can breathe a little easier about the deficit.

According to a supplemental sentencing memorandum filed Wednesday with the United States District Court for the Western District of Washington in Seattle, Mr. Krane has entered an agreement with the IRS, his former client Haim Saban, and others under which the federal government is to receive $23 million of the approximately $46.6 million Mr. Krane and others were accused of siphoning from a Saban deal in 2002.

• ABA Journal, Suspended LA Lawyer Gets 32 Months, Must Repay $41M, in Quellos Tax-Shelter
• Accounting Today, Lawyer Sentenced in Quellos Tax Shelter Scheme
• Forbes, Show Biz Lawyer Finally Sentenced in Massive Fraud Case
• Sacramento Bee, CA Man Gets 2 1/2 Years in Prison for Tax Evasion

(Hat Tip: Bob Kamman.)