The Champion

November/December 2008 , Page 54 

Search the Champion Looking for something specific?

Preview of Member Only Content

For full access: login or Become a Member Join Now

White Collar Crime

By Kathryn Keneally

Read more White-Collar Crime columns.

The Second Circuit’s Decision in U.S. v. Stein: The End of the Holder-Thompson-McNulty Era

The prosecutor defined cooperation as requiring witnesses to “‘tell the truth’ the … way we … define it.”1 Those words, which are quoted more than halfway through the Second Circuit’s recent decision in United States v. Stein, are at the heart of what has been wrong with the government’s policies under the Holder, Thompson, and McNulty memoranda, and are at the core of what cost the government its indictments of 13 former partners and employees of the accounting firm KPMG.

The indictment in Stein was heralded by the government as the largest criminal tax prosecution in history. At issue were transactions that were structured to avoid tax liability, or as the government prefers, alleged abusive tax shelters. The charges focused on four transactions, which were known by the acronyms BLIPS, FLIP, OPIS, and SOS. The government in effect contends that the sole reason for taxpay

Want to read more?

The Champion archive is reserved for NACDL members.

NACDL members, please login to read the rest of this article.
login

Not a member? Join now.
Join Now
Or click here to see an overview of NACDL Member benefits.

See what NACDL members say about us.

To read the current issue of The Champion in its entirety, click here.

  • Media inquiries: Contact NACDL's Director of Public Affairs & Communications Ivan J. Dominguez at 202-465-7662 or idominguez@nacdl.org
  • Academic Requests: Full articles of The Champion Magazine are available for academic and research purposes in the WestLaw and LexisNexis databases.

In This Section

Advertisement Advertise with Us
ad