Ex-EY Partner Not Getting His Day in Supreme Court

Posted on by Caleb Newquist

Robert Coplan, one of three former EY partners who were convicted of selling illegal tax shelters that cost the government $2 billion, has had his case rejected by Supreme Court. Coplan's conviction was upheld last November by the U.S. Court of Appeals in New York and he was hoping to challenge one count in front of the big bench "to narrow the scope of the federal law that criminalizes conspiracies to defraud the U.S. government."  [Bloomberg]

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Ernst & Young Partner May Have Known This Lehman Brothers Bankruptcy Situation Was Going to Get Worse

This was in January 2009 after the shit had hit the fan and E&Y’s partner on Lehman, Hillary Hansen, may have had an idea of how cozy she was going to get with bankruptcy examiners, the NYAG, SEC, PCAOB, etc.

Skip ahead to around 17:00 (you have to go to the website to watch) where Hansen says, “We audit Lehman Brothers, unfortunately,” to sparse chuckles.

Zero Hedge makes the case against E&Y (Hansen being the main culprit) in excruciating detail and thinks FSO might be down for the count:

[W]e are confident that (again, with the assumption that we live in some semblance of a sane/ration world), E&Y’s Financial Services Office is done (even despite such ironically apropos warnings on the firm’s website as “Top six liquidity risk management challenges for global banks “), and quite possibly the entire firm. Integrity is the number one currency for an auditor, and just like Anderson, E&Y’s just went out in a puff of green-colored smoke.