BDO ex-chief is indicted in $7-billion tax scheme
The former chief executive of a major accounting firm and six others were indicted in what authorities say was a wide-ranging criminal scheme that generated more than $7 billion in fraudulent tax losses.
The indictment filed Tuesday in federal court in Manhattan charges the seven with 27 separate counts that include tax evasion and conspiring to defraud the Internal Revenue Service.
“The allegations contained in the indictment reflect a brazen disregard for the law,” acting U.S. Atty. Lev Dassin said.
One of those charged was Denis Field, 51, of Naples, Fla., former CEO of BDO Seidman, an international accounting firm founded nearly 100 years ago in New York.
Prosecutors said Field, a certified public accountant and lawyer, was the head of BDO’s national tax practice and one of three people running the group that handled all aspects of the firm’s tax shelter practice.
Field’s lawyer could not be reached for comment.
The tax evasion and conspiracy counts each carry a penalty of five years in prison.
Three former BDO employees have pleaded guilty this year in connection with the scheme.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
